Energy sector projects by Surana Ventures Limited in
Project Information
5741
Surana Ventures Limited
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<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">Surana
group companies Bhagyanagar India and Surana Ventures, which had announced
plans to set up two 5-MW solar power plants in Andhra Pradesh, have decided to
defer the projects amid concerns of their financial viability.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">Bhagyanagar
and Surana have already commissioned two 5-MW solar photovoltaic units each in
Andhra Pradesh and Gujarat, respectively.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">While
the first unit set up in Munipally in Medak district of Andhra Pradesh was
commissioned about six months after it was ready due to delays in securing
linkages and permissions, the management is considering deferring the
implementation of the other two solar projects of 5 MW each, Narendra Surana,
Managing Director, Bhagyangar and Surana Ventures, told Business Line.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">The
companies have decided to defer the implementation of new projects till the
Government extends support.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">Surana
said the erratic mode of evacuation of power at the Munipally unit is causing
hardship to the company.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">While
the power gets generated by 6.30 a.m. or 7 a.m., it is not being evacuated as
there is no power supply to the rural area around during that time. This is
causing severe financial strain, making the project unviable.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">The
company has invested about </span><span style="font-size:13.0pt;font-family:
"Corbel","sans-serif";mso-bidi-font-family:Corbel">Rs.</span><span style="font-size:13.0pt;font-family:"Corbel","sans-serif";mso-bidi-font-family:
Calibri">30 crore on the project.</span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;line-height:normal;background:
white"><span style="font-size:13.0pt;font-family:"Corbel","sans-serif"">“Given
this backdrop, the company is reconsidering its plan to set up two units of 5
MW each at Medak and Vikarabad.</span></p>
<span style="font-size:13.0pt;line-height:115%;font-family:"Corbel","sans-serif";
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mso-fareast-language:EN-US;mso-bidi-language:AR-SA">These were to be
commissioned by March and June, respectively. Instead, we are looking at
setting up another plant of 5 MW in Gujarat, where a 5-MW solar power farm is
operational,” Surana said.</span><!--[if gte mso 9]><xml>
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Project Value
INR 30 Crore /-
Conceptual
Andhra Pradesh
India
Energy
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