CLP plans to add scale to India arm
Hong Kong-headquartered utility CLP has plans to add scale to its India arm, driven by renewable energy and transmission projects, and list the company on bourses here in the next two to three years.
CLP India, one of the first foreign companies to enter the Indian power sector, has invested more than Rs. 14,500 crore since it set up shop here in 2002. The company has faced challenges, much like its peers, but is optimistic about the Indian growth story . It recently moved its headquarters in Mumbai to a company-owned property , after working out of leased offices for over a decade, reflecting its plans to become an integral part of India’s power play .
“In the next 10-15 years, we want to be a part of the fabric of India, just as we are in China. We do have an explicit longer-term objective of being listed in India, but we want to do it for the right reasons and with right assets. We recognise it may take 2-3 years to get listed in India,“ Rajiv Ranjan Mishra , the managing director of CLP India, told ET in an interview.
CLP India has a diversified portfolio of 3,000 MW of renewable energy , supercritical coal and gas-fired generation. The company recently bid for a power transmission project after a gap of almost a decade and it wants to be more active in this space now.
We have improved our operational performance for four consecutive years and 2017 would be the fifth. Though we are not saying no to conventional energy, we are focusing now on non-carbon generating businesses like renewable energy, power transmission, smart cities and investment in innovation,“ Mishra said.