Annual Report 2009 to 10
The company is actively engaged in the generation of power in line with the National Policy.
Suryachakra Power Corporation Limited had set up a 20MW diesel based power plant in a remote area near Port Blair, Andaman Islands at a cost of Rs. 850 millions and dedicated it to the Nation. The plant has been in successful operation since April 2003. It has already notched up an annual turnover of Rs.1 billion.
Suryachakra had bagged the award to construct and operate the 20 MW Diesel based Power Plant in Andaman & Nicobar Islands through Competitive Bidding by the A&N Administration. The project was funded by State Bank of India and SREI Infrastructure Finance Ltd. The equity was originally provided by Dr.S.M.Manepalli & Associates, Caterpillar and BSES Limited. The Company is accredited with ISO.9001: 2008 certification. SPCL has gone for a successful IPO subscription during June 2007 and is a listed company on the Bombay Stock Exchange[BSE].
Project Development Partners
This prestigious Plant was set up with technical collaboration of world class leaders M/s. Caterpillar Power Ventures Inc. Operation & Maintenance of the plant was handled by M/s. Caterpillar Power Ventures Inc, till 2008. Promoters bought back the stake of Caterpillar in 2006.
Caterpillar Appreciation Letter
Reliance Energy Limited (Formerly BSES)
The project was constructed by erstwhile BSES Limited under EPC Contract. The main equipment was supplied by M/s. MAK Morten GmbH, Germany, a division of M/s. Caterpillar International Power Systems, a subsidiary of Caterpillar Inc, USA.
SPCL is the flagship company of Suryachakra Group with interests in the following business areas:
Renewable Energy (Biomass, Solar, Hydro, Wind)
Clean Technology based Super Critical Power Plants (Coal and Gas)
ENGINEERING AND CONSULTANCY
The company has been accredited with ISO 9001-2008 certificate for the plant at Port Blair.
The promoters of the Company acquired the shares held by M/s.Caterpillar Power Ventures International (Mauritius) Limited during 2005 through Kalyan Securities Limited one of the promoter’s core investment companies.
SPCL launched three wholly owned subsidiaries for setting up of biomass power plants: LPSL, SAAIL and MSM Energy Limited.
SPCL received License for Power Trading.
Initial Public Offer: The Company came out with a successful IPO of 3.4 crores equity shares of Rs. 10/- each at a premium of Rs. 10/- during June 2007. The shares are listed on Bombay Stock Exchange (BSE). The Company Code in BSE is 532874 and Ticker Symbol in Bloomberg is SUPC:IN.
SPCL acquired 51% stake in Sri Panchjanya Power Pvt Limited, which was setting up a 10 MW biomass based power plant at MIDC Hingoli, Maharashtra.
4 out of 5 biomass projects already registered with UNFCCC for carbon credits.
Suryachakra formed a Joint Venture with Solar Millennium AG, a global leader in Solar Thermal Technology, for setting up of Solar Thermal power projects in India.
Suryachakra awarded Haldia Urban Infrastructure project by M/s.Haldia Development Authority.
SPCL signed an MoU with Chhattisgarh government for setting up of Coal based power plant in Chhattisgarh.
SPCL received No Objection Certificate for setting up of 70 MW coal washery rejects / coal based power plant in Chhattisgarh.
Lahari Power & Steels started commercial operations during April’ 2008.
Signed MoU with MP Government for implementation of coal projects.
South Asian Agro Industries started commercial operations during Jan’ 2009.
Suryachakra Group created Renewable Energy vertical in 2009. Suryachakra Group inducted First Climate/CCI, as investment partner in Renewable Energy Portfolio.
Suryachakra has partnered with Shapoorji & Pallonji (S&P) a leading EPC Contracting Company in Infrastructure segment with proven expertise in successful project execution and commissioning. S&P is acting as EPC Contractor and investing in the Equity.
Board of Directors
Mr. P.Visweswara Rao IAS (Retd.), formerly Chief Secretary to Government of Andhra Pradesh is a BA (Hons) Graduate with a Law degree and IAS. He has forty years of Administrative experience at District, State and National levels. He worked in different capacities and retired as Chief Secretary to the Government of Andhra Pradesh. He also worked as Chairman of Infrastructure Authority of Andhra Pradesh.
Dr.S.M.Manepalli hails from Agricultural & Business Family, Bhimavaram, West Godavari District, Andhra Pradesh and a qualified M. B. B. S., Doctor. He was engaged in Agriculture and Rice milling Business and operated 6 Rice Mills belonging to the family during 1974-87. He had served as President of Bhimavaram Rice & Oil Merchants Association during 1983-87. He also operated Deep-sea Foreign Fishing Vessels on Charter basis during 1987-92 and developed various International Business Connections.
Since 1992 he was engaged in Aqua-culture Business. During this period he was also engaged in Construction & Operation of Prawn/Fish Tanks, Hatchery, and Feed Mill & Processing Plants which earned profits continuously from 1992 to 1996.
Inspired by the liberalization policies of Govt. of India, during 1995 he diversified into setting up Power Generation Plants following the Privatisation of Power Sector. He promoted Suryachakra Power Corporation Limited and extensively worked on Power projects and gained good experience in all aspects of Power Projects.
M.Seshavatharam hails from business community. He has to his credit varied business experience. He has gained experience particularly in power projects, agriculture, fresh water fish culture. He is the Director on the Board of M/s. Suryachakra Power Corporation Limited a company which established a 20Mw Independent Power Project at Port Blair in Andaman & Nicobar Islands. He is also a Director in various other Companies whose main business is generation of Power.
Mr.Mahesh Chand is an Engineering graduate with 29 years of Experience in various Engineering and Power Projects and is presently working as Senior Vice President in Power Sector Company. He is also member of Indian Institute of Materials Management.
Mr. P. K Bhattacharjee is a Post Graduate in Economics. He has worked in different capacities with State bank of India and retired as Deputy Managing Director and Chief Financial Officer in the year 1999. He is empanelled as an arbitrator with national Stock Exchange of India Limited, Kolkatta and also listed in the panel of arbitrators with NCDEX, Mumbai.
Commodore K.V.Subramaniyam, YSM(Retd.) Worked with Indian naval and Indian Cost Guard for 31/2 decades. In his Carrier he has commanded many ships & submarine. He was also the Indian Naval Commander for IPKF at Srilanka. He was Indian Naval Advisor at Embassy of India Bonn, Germany with concurrent accreditation to France and the Nether Lands. It was during that period, he conceived the Idea & concept for Solar Thermal Power for India. He is presently the Director of Suryachakra Power Venture Pvt. Limited and Suryachakra MSM Solar India Pvt. Limited.
Mr.K.Satyanarayana has over 30 years of experience in projects, project management. He hails from Agricultural Family, Khammam District, Andhra Pradesh and an AMIIPE Graduate. He had extensively worked on infrastructure projects during his 15 years stay in Malaysia.
He Worked as a Mechanical Engineer for M/s. MHES SDN.BHP Petaling Jaya, Selangoor, Malaysia. And from 1996 to 2002 worked as Project Engineer and Project Coordinator with M/s. ENRINCO SDNBHD & M/s. Para Waters SDN.BH.
He worked for M/s. Nava Bharat Ferro Alloys Limited, Polancha, Khammam District, Andhra Pradesh. He is also a Director in various other companies.
Mr. K.B.Trehan is an engineer with 40 plus years of experience in mining, power steel and management areas. In the year 1994-95 presented the best manager’s award. He was also awarded Mrs.Bala Tandon awarded for upgrading the quality of life of mine workers. He is ex-council member, MGMI. He is former member, Board of mining Exams (Coal) in India. He was also awarded the “Coal India Trophy” for the best project management in 1995.
Mr. V.S.Murthy is as Technical Director to guide, advise & monitor the technical and operational aspects of the company. He is aged 64 years is an Electrical Engineering Graduate from Andhra University. Waltair, Andhra Pradesh and has got vast experience of more than 45 years in power and infrastructure development. He had served in various capacities in central public sector undertakings viz., Heavy Engineering Corporation Limited, Ranchi, Jharkhand State in various fields. He has visited France and Germany.
He worked in ITC Bhadrachalam Paper Board Bhadrachalam, Khammam Distreict, and Andhra Pradesh for 10 years and retired as a Chief Engineer (Projects) during July 1998.
He has vast experience in project planning, development, implementation and operation.
Mr. T. Venkata Raju holds a Bachelors Degree in Computer Science & Engineering from Nagarjuna University and gained vast experience in the Software industry as Project Leader in Amdocs. He holds an Executive Director position in Suryachakra Thermal Energy (Andhra) Pvt. Ltd and he is also on the Boards of Suryachakra Power Corporation Limited, Suryachakra Global Enviro Power Limited, South Asian Agro Industries Limited, M.S.M. Energy Limited, Sri Panchanjanya Power Private Limited.
Mr. A. Ramesh Kumar holds a Masters Degree in Physics from University of Delhi, PG Diploma in Management from AIMA, New Delhi and Diploma in French & Japanese. He is the Managing Director & CEO of Asia Pragati Capfin Private Limited, RBI registered special situations financing NBFC which is 100 owned by an offshore fund headquartered in USA. Prior to that, he worked as the Chief General Manager of State Bank of India. He brings in 33 years of deep understanding and knowledge of the Indian & Global Economy. He is also the Chairman & Managing Director of Swarna Pragati Housing Microfinance Private Limited. He is on the Board of the Company since August 10, 2010.
Dollygunj Junction, Dollygunj Post,
South Andaman, Port Blair- 744 103
Phone : + 91 – 03192 – 252445
Fax : + 91 – 03192 – 251750
E-mail : email@example.com
Registered Office :
Suryachakra Power Corporation Limited,
Plot # 304 L, Road No.78, Film Nagar,
Jubilee Hills, Hyderabad – 500033
Phone : +91 40 3082 3000 , +91 40 2355 0597 / 98
Fax : +91 – 40 – 2354 1339
Bambooflat, Near Fire Brigade,
South Andaman, Port Blair 744 107
Andaman and Nicobar Islands
Tel :+ 91 – 03192 – 258787/258810
Fax :+ 91 – 03192 – 258711