Indian economy, one of the most vibrant emerging economies of the world has been
growing at the rate of 8% per annum over last several years. This fast paced growth is
fuelled by an increasing appetite for power by all segments of economy. It has become
imperative for the power sector to quickly expand capacities to feed the growing economy.
During the 11th five year plan record 54,964 MW generation capacity has been added taking
the installed generation capacity in India to 200,000 MW. The generation capacity is
planned to be further increased by 76,000 MW during the 12th plan.
The role of private sector in the Indian Power Sector has evolved over the years.
During the first year of the 11th Plan, private sector accounted for only 8% of the total
capacity addition, whereas during the year 2011 -12, this had increased to 58%. In the
coming years also private sector is expected to play a key role in capacity addition
program. As per Planning Commission the total fund requirement during the 12th five year
plan, considering each aspect of power sector, is expected to be to the tune of Rs. 14
lakh crores. A substantial chunk of this is expected to come from private sector players.
The Indian power sector is currently at a critical juncture of its transition from a
monolithic opaque state controlled regime to a vibrant, competitive market driven
structure which aims to provide quality power at affordable prices to all parts of the
economy. This transition is not without hiccups; the industry has come face to face with
many key challenges in the last one year. There have been challenges in the area of fuel,
financing, land, water and environmental clearance amongst others. Though some have
faltered in the face of these challenges, I am happy to inform you that your Company had
anticipated such issues at a very early stage and had taken appropriate mitigating
measures, and thus has managed to ring fence itself from possible road blocks.
On the project development front, your Company has met all targets that it had set for
the year. The speed and efficiency of execution for our projects along with our commitment
of delivering higher return to our shareholders has remained a key priority.
Both Amravati & Nashik have achieved substantial progress with more than 10,000
personnel working round the clock at project site, and an expenditure of Rs. 4,284 crores
has till date been incurred on Amravati and Rs. 3,866 crores on Nashik.
The stupendous efforts being put in have brought the projects closer to commissioning,
and the objective once accomplished, shall culminate in transforming the projects into a
world class generating facility, thereby metamorphosing your Company from a project
development company to a company with operating assets.
You would be proud to know that in pursuit of excellence, which is an integral part of
Indiabulls culture, Amravati Thermal Power Project has been awarded ISO 14001 and OHSAS
Corporate Social Responsibility
Your Company has always considered Corporate Social Responsibility as a way to achieve
inclusive growth which is sustainable. As a society, we are at the confluence of
accelerated economic progress and extreme deprivation. As corporate citizens, we at
Indiabulls are conscious of the opportunities and the responsibility that this confluence
presents and are keen to help in building an inclusive society.
Indiabulls Power Limited, has initiated CSR activities in the project areas. A
need-assessment study has been carried out and a strategic plan of action evolved for the
The coming year would be a monumental year for us, where we make a crossover from a
project company to a generating company with revenues and superior profits. I would once
again like to assure you that we are in the best competitive position amongst all the new
entrants in the power sector, and are on course to build a leadership position in Indian
Power Sector. Going ahead, with our projects having firm tie-up for sale of power, and
long term fuel linkage we would realize superior returns to our shareholders.
Lastly I take this opportunity to warmly thank all our Shareholders, Customers,
Employees, Bankers and Financial Institutions for reposing their faith in us and
motivating us to excel in all facets of our business.
Founder & Chairman