After powering India for almost two decades as a diversified provider of low-carbon energy, CLP India has announced a refreshed drive to accelerate growth under its new corporate identity – Apraava Energy.
Strengthening its commitment to support the development of a green economy in India, Apraava Energy will seek to encourage participation from local shareholders in the medium term.
The name of Apraava Energy is inspired by the combination of four Sanskrit words – Agni (Fire), Prithvi (Earth), Ambu (Water) and Vayu (Wind),epitomising an entity that harnesses the power of multiple natural elements.
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Apraava Energy steps into the future with a vision of creating a diversified business that will fuel India’s economic growth through access to clean, reliable and affordable energy. It has set a target to double its existing energy portfolio in the next three to four years, contributing to the country’s 450GW renewable energy target by 2030. Broadening its horizon to explore non-generation opportunities, Apraava Energy plans to further expand its power transmission business and pursue possibilities in electricity distribution. As the power sector gets privatized, the company will proactively focus on foraying into low-carbon customer-focused energy businesses.
Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said: “Over the last two decades we have built a financially resilient business by providing customers with reliable, high-quality energy, while all our stakeholders have benefitted from our world-class governance and operating standards. As we embark on a new chapter in our growth story, Apraava Energy remains committed as ever to our country and our stakeholders. Apraava Energy will support India’s ambitions of providing clean and sustainable energy to all in the development ofa low-carbon nation. In the next five years, we want to be a leader in renewable power generation and achieve significant success in our transmission and distribution businesses.Our principles and values and the culture that we have nurtured since our inception will continue to be at the core of everything we do for our stakeholders. We are focusedon building a sustainable power company that epitomises energy in action.”
Apraava Energy is jointly owned by the CLP Group, one of Asia’s largest investor-owned power businesses, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.
