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.
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.