RattanIndia group, formerly named India Bulls Power, is a US $1 billion net worth business conglomerate with business interests in power generation, cement and mining. RattanIndia Power Limited is developing 5400 MW of coal based thermal power projects Amravati and Nasik in Maharashtra. It has currently installed and operational capacity of 2700 MW. Rajiv Rattan is the founder chairman of the group.
History
Rattan co-founded Indiabulls group in year 1999. As a co-founder and ex-Vice Chairman of Indiabulls group, he played an important role in scaling up various businesses and transforming it into US $3 billion business conglomerate with business interests in consumer finance, Securities, Real Estate, Power Generation, securities and Information Technology. The power and infrastructure business of Indiabulls group was hived off in July 2014 and rechristened as RattanIndia Power Limited and RattanIndia Infrastructure Limited. Rattan bought out the shares of other promoters in Power and Infrastructure businesses, while retaining his holding in Indiabulls Housing Finance and Indiabulls Real Estate.
Businesses
Power Generation
RattanIndia Power is one of India’s largest private power generation companies. It has already incurred a capital expenditure of INR 17000 cr in developing 5,400 MW coal based Thermal Power Projects at Amravati and Nasik in Maharashtra. The total capital expenditure on development of plant will be around INR 34000 crore. Currently phase I of Amravati power plant with total installed capacity of 1350 MW is fully operational and Phase I of Nasik power plant with generation capacity of 1350 MW has been commissioned. The group has 3235 acres of land in possession for power generation. It also has a fuel supply agreement with Coal India Limited for entire 5400 MW. Railway siding for Amravati Thermal Power Plant is already operational while construction of railway siding for Nasik plant is currently going on. On transmission side, 159 km of transmission lines are being laid down for Nasik and Amravati. A long term power purchase agreement for 25 years is in place with Maharashtra State Electricity Distribution Company Limited for Amravati Power Plant.
Renewable Energy
RattanIndia is implementing about 300 MW of solar power projects across different states in the country. While 154 MW of ground mounted solar projects are under development, 116 MW capacity of solar parks are already functional in Maharashtra and Rajasthan. RattanIndia is already owning 1100 acres of land exclusively for solar and 300 acres of additional land acquisition is in pipeline. Besides ground mounted projects, the company is also implementing rooftop solar projects. Rooftop project of 5 MW has already been commissioned on more than 80 buildings across 3 cities in Madhya Pradesh. RattanIndia has also implemented 10 MW of rooftop projects in West Bengal and Delhi on CPWD buildings which includes important buildings like The Supreme Court of India and Rashtrapati Bhawan. The Group is now actively engaged in bringing the benefits of cheaper and cleaner energy to the people. The Solar division is headed by Mrs. Anjali Nashier who is also the Vice-President of the group.
