Type Public company Website www.rattanindia.com Founded 2007 | Key people Rajiv Rattan, Chairman Headquarters India | |
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Traded as NSE: RTNPOWERBSE: 533122 Industry Power Generation, Mining, Cement Stock price RTNPOWER (NSE) ₹ 7.55 -0.15 (-1.95%)24 Mar, 3:30 PM IST - Disclaimer Subsidiaries Bracond Ltd., Hecate Energy Trading Limited | ||
RattanIndia group, formerly named India Bulls Power, is a US $1 billion (INR 6500 crore) 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 1620 MW which is expected to be 2700 MW by end of year 2015. Mr. Rajiv Rattan is the founder chairman of the group.
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History
Mr. Rajiv 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 (INR 19320 Cr) 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. Mr. Rajiv 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.
Power Generation
RattanIndia Power (formerly known as Indiabulls 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 (2700MW at each location) 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 for Nasik power plant with generation capacity of 1350 MW is expected to complete by Dec 2015. 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. RattanIndia will be developing 70 km of railway line for Amravati and Nasik plant to facilitate movement of supplies. Amravati plant is already on rail map of India. 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 94 MW of solar power projects. While 88 MW of solar parks are under development, 6 MW capacity solar parks are already functional since last 3 years. RattanIndia is already owning 1100 acres of land exclusively for solar and 300 acres of additional land acquisition is in pipeline. The Group is now actively engaged in bringing the benefits of cheaper and cleaner energy to the people through rooftop solar solutions under the brand name of 'Apna Solar'.
Cement
RattanIndia is developing cement grinding unit with capacity of 3.30 million tonnes per annum at additional Sinnar Industrial Area, MIDC, Nasik (Maharashtra). The flyash for manufacturing of cement will be sourced from Nasik power plant and other dedicated infrastructure like railway corridor and power supply will be in place by Dec 2015.
Mining
RattanIndia has 4134 acres of mining blocks in Haryana that will cater to markets Delhi/NCR region, Haryana and Western Uttar Pradesh.