CLP India, a wholly owned subsidiary of CLP Holdings, is a leading investor-operator in the Asia Pacific. CLP entered the Indian market in 2002, with the acquisition of Paguthan CCPP (formerly Gujarat Paguthan Energy Corporation), a 655 MW gas-fired power station in Bharuch, Gujarat. Over the last decade, CLP India has built a responsible, technologically advanced and diversified portfolio of close to 3,000 MW.
It is the largest foreign investor in the Indian power sector, with total investment of over Rs 14,500 crore, spread across renewable energy, supercritical coal, and gas-fired generation. With more than 1,000 MW of committed wind power projects, CLP India is the largest investor in India´s wind power sector
Investment in the renewable energy sector is driven by the Group's strategy of reducing their carbon footprint by moving away from reliance on conventional coal fired generation and increasing the share of non-carbon emitting in its portfolio to 30 per cent by 2020 as prescribed in the Group's climate strategy. Besides, CLP is also reviewing prospects of investing in wind, solar, biomass and other renewable energy projects.
Key success factors:
Long-term generation capacity
CLP India also has one of the biggest Wind IPP with over 1,000 MW of committed investments. It has ~300 MW of wind projects under construction in Maharashtra, Rajasthan and Madhya Pradesh.
With strong backing of its HK-based parent CLP Holdings, its subsidiary´Jhajjar Power Limited´has successfully raised Rs 476 crore to re-finance its Jhajjar Power project situated in Haryana. The company has closed the issue on the day it opened by raising the full amount of Rs 476 crore. The Jhajjar project, earlier, had a standalone rating of BBB, which gradually moved to A+ because of its sheer performance. At present, the rating stands at AA+ (SO), based on 50 per cent credit enhancement by the parent. So with the higher standalone ratings a 100 per cent guarantee is not required from the parent.
Awards and recognitions
Jhajjar Power Plant won the Ministry of Power´s ´Gold Shield Award for the Year 2011-12´ (Unit I, 660 MW) and 2012-13 (Unit II, 660 MW) in the category of ´Early Completion of Thermal Power Projects'.
CLP India won ´CFO 100 award for the year 2014´ in the category of ´Risk Management´ in recognition to exceptional contribution made in this category.
Jhajjar plant was awarded the ´D&B Infra Award´ under 'Projects' category.
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