Ravindra Energy Ltd

Ravindra Energy Limited, formerly Ravindra Trading and Agencies Limited was incorporated in May, 1980 in Karnataka. The Company name was changed to Ravindra Energy Limited from Ravindra Trading and Agencies Limited in March, 2010 and since the incorporation, it engaged in Selling Solar Pumps, Setting up of Solar Generation Power Plant (Ground Mount & Rooftop) & Generation and Sale of Power. In 2014, Shree Renuka Energy Limited (SREL) got amalgamated with the Company through the Scheme of Amalgamation with effect from March 18, 2014. In FY2015, the Company entered into the business of installing solar photovoltaic (PV) power packs at existing irrigation pumps at various locations in the state of Karnataka. The Company has so far installed 67 solar PV packs. During the year 2015, the Company participated in Karnataka Small Farmer Solar Policy. Government of Karnataka, invited applications for up to 3 MW ground mounted grid connected systems and the Company through farmers received 1 to 3 MW allocations. During the year 2016, 48,55,000 equity shares of Rs. 10/- each, partly paid to the extent of Rs. 2.50/- per share, have been made fully paid i.e. paid to the extent of Rs. 10/- each, resulting in increasing paid up share capital of the Company from Rs. 1,142.81 million to Rs. 1,179.23 million. In FY2015-16, the Company installed and commissioned 281 Solar Photo Voltaic (PV) Power Pumping Systems at existing irrigation wells at various locations in the state of Karnataka. The Company had target to install and commission 750 Solar Photo Voltaic (PV) Power Pumping Systems, during the financial year 2016-17. In FY2015-16, the Company commissioned and synchronised with Hubli Electricity Supply Company Limited (HESCOM) grid, following roof top PV systems a. 150 kWp at CBSE School, Kokatnur, Taluka Athani, Distt. Belgaum in February 2016. b. 498 kWp at Sports School, Chandargi, Taluka Ramdurg, District Belgaum in the month of June 2016. Survey and technical feasibility study has been completed for installation of roof top PV systems at various places in state of Karnataka of the capacity aggregating to over 3500 kWp. The Company entered into Engineering, Procurement and Construction contracts for setting up 1 to 3 MW Solar Power Projects with 18 parties aggregating to 41 MW, in the state of Karnataka, having total contract value of Rs. 287 crores in FY2016-17. In FY15-16, the Company entered into operation and maintenance contracts for providing operation and maintenance service of the power project subsequent to completion of erection of ground mounted 1 to 3 MW Solar Power Project on annual contract sum basis aggregating to 41 MW, having total contract value of Rs. 430.50 lakhs per year. During the year 2015-16, however, Minerales Elefante S.A.S. cease to be a Company's subsidiary. During the year 2015-16, the Company transferred its entire stake held in Renuka Global Minerals (Mauritius) to Renuka Energy Resource Holdings FZE (UAE) a 100% overseas subsidiary. During FY2016-17, the Company so far installed and commissioned 407 Solar Photo Voltaic (PV) Power Pumping Systems at existing irrigation wells at various locations in the state of Karnataka and 105 numbers are under various stages of commissioning. Under Karnataka Renewable Energy Development Limited (KREDL), the Company is awarded the work of supply, installation, testing, commissioning and five year comprehensive maintenance of 1530 numbers of AC/DC Solar Water Pumping Systems of 5 HP capacities. The Company commenced the work of installation and so far 55 numbers have been commissioned and 62 numbers of pumps are at various stages of commissioning in the year16-17. In FY 2016-17, the Company signed Power Purchase Agreements/ EPC Agreements with various parties for setting up Solar Rooftop Photo Voltaic Systems of capacity aggregating to 4.61 MW. It won tender from Solar Energy Corporation of India (SECI) New Delhi for setting up Solar Rooftop Photo Voltaic Systems on Capex and RESCO basis in the states of Jammu & Kashmir, Karnataka and Maharashtra of the aggregate capacity of 7 MW. In FY 2016-17, the Company had incorporated 11 special purpose vehicles in the form of Limited Liability Partnerships (LLP), partnering with farmers, for developing, designing, engineering and installing ground mounted, grid connected systems up to 1 to 3 MW, in the state of Karnataka, under Farmer Solar Policy of the Government of Karnataka, having aggregate capacity of 22 MW. The Company also entered into partnership agreements with four Limited Liability Partnerships, increasing Special Purpose Vehicles from 11 to 15 and aggregate capacity of the projects from 22 MW to 34 MW. The assignment of another project having capacity of 3 MW is pending before the Bangalore Electricity Supply Company Ltd for consideration. The Company through LLPs have installed, commissioned and synchronised to the grid 12 Ground Mount Solar Power Projects of the aggregate capacity of 29 MW, at various locations in Karnataka. During the year 2016-17, PT Jambi Prima Coal, PT Surya Global Makmur (Indonesian Companies) and Mineracoa Elefante LTDA (Brazil) cease to be subsidiaries of the Company. Further, PT Nagarta Coal Fields (Indonesia) and Renuka Global Minerals (Mauritius) cease to be subsidiaries after the balance sheet date. During FY16-17, Vantamuri Trading and Investments Limited and Nandur Sugars Limited wholly owned subsidiaries have given notice of the scheme of their amalgamation with the Company, to the Registrar of Companies and Official Liquidator, pursuant to Section 233 (1) (a) of Companies Act, 2013. The Company incorporated a wholly owned subsidiary in the name of Rhibhu Rooftop Solar Solutions Limited on July 28, 2017 as a special purpose vehicle to enter into the business of rooftop solar and other power-related projects. Karnataka Renewable Energy Development Limited (KREDL), allotted total 1263 numbers of pumps, of which the Company commenced the work of installation and so far 674 numbers have been commissioned and 589 numbers of pumps are at various stages of commissioning. Under Maharashtra Energy Development Agency (MEDA), the Company commissioned 101 solar AC & DC pumps across various districts in the State of Maharashtra in FY 17-18. During FY2017-18, the Company through its Wholly-Owned Subsidiary i.e. Rhibhu Rooftop Solar Solutions Limited a Special Purpose Vehicle, signed Power Purchase Agreements/ EPC Agreements with various parties for setting up Solar Rooftop Photo Voltaic Systems. In addition to the existing projects of 646 kw, the new projects under SECI Scheme were successfully commissioned in the States of Karnataka and Maharashtra as under - 1) Karnataka: EPC-500 Kw 2) Maharashtra: EPC- 750Kw OPEX-1919Kw OPEX -1850Kw. During the year 2017-18, the Company had installed, commissioned and synchronised to the grid 15 Ground Mount Solar Power Projects of the aggregate capacity of 34 MW, at various locations in Karnataka. During the year 2017-18, PT Nagarta Coal Fields (Indonesia), Renuka Global Minerals (Mauritius) and PT. Bandargah Mandiangin Internasional (Indonesia), cease to be subsidiaries of the Company. During FY 2017-18, the Company had provided Corporate Guarantee in favour of ICICI Bank Limited, to secure the loan of USD 16 million, availed by Renuka Energy Resource Holdings (FZE), an overseas Wholly- Owned Subsidiary of the Company. Since, Renuka Energy Resource Holdings (FZE), was unable to pay the loan amount, ICICI Bank Limited invoked the Corporate Guarantee provided by the Company, which as been duly discharged by the Company. During the year 2018-19, PT Renuka Coalindo TBK and PT Renuka Jambi, ceased to be subsidiaries of the Company. The Company through its Wholly-Owned Subsidiary i.e. Rhibhu Rooftop Solar Solutions Limited a Special Purpose Vehicle (SPV), signed Power Purchase Agreements/EPC Agreements with various parties for setting up Solar Rooftop Photo Voltaic Systems. In addition to the existing projects of 6,160 kw, the new projects under the SECI Scheme were successfully commissioned in the State of Karnataka and Maharashtra are detailed as under- 1) Karnataka: EPC-840 Kw 2) Maharashtra: EPC- 464Kw OPEX-2576Kw OPEX -2336Kw in FY2018-19. In FY 2018-19, the Company by partnering in Limited Liability Partnerships, set up 34 MW Ground Mount Solar Power Projects and also installed, commissioned and synchronised 0.486 MW power Project under a Power Purchasing Agreement with the MADC Shiridi Airport Authorities for developing, designing engineering and installing ground mounted, grid connected systems at Shirdi International Airport, Pimpari Lokai Shirdi, in Ahmednagar District of Maharashtra. The Company installed, commissioned and synchronised total of 16 Ground Mount Solar Power Projects of the aggregate capacity of 34.486 MW, at various locations in Karnataka and Maharashtra. The Company installed and commissioned 275 Solar Photo Voltaic (PV) Power Pumping Systems at existing irrigation wells at various locations in the state of Karnataka. Under Maharashtra Energy Development Agency (MEDA), Government of Maharashtra Scheme, the Company commissioned 101 solar AC & DC pumps across various districts in the State of Maharashtra in 2018. The Company commissioned l,344numbers of AC Solar Water Pumping Systems of 5 HP capacities in 2019. On January 18, 2021, Company launched its brand 'Orenj' in Belagavi, Karnataka. A Demo Centre was set up in Belagavi, Karnataka. Ravindra Energy KNSP1 Private Limited and Ravindra Energy MHSP LLP were incorporated in financial year 2021-22. Further, Ravindra Energy REP1 LLP and REL Power Trading LLP were incorporated in April, 2022. The Company commissioned 13.9 MWp grid connected solar (photovoltaic) power generation facilities at the Project Site situated at Kumbhari Village, in District Sholapur, of Maharashtra, through its Subsidiary Companies in 2023. Agri Venture Trading and Investment Private Limited got amalgamated with the Company through Scheme of Amalgamation, and the said Scheme was given effect on May 15, 2023. In February 2025, the Company commissioned the Dudhgaon solar project, with 40 MWp of its MSEDCL and 130 MWp KUSUM C project in March 2025.