Karma Energy Ltd is engaged in the business of generation of power from renewable energy sources predominantly wind power. The company has wind farms in Andhra Pradesh, Tamil Nadu and Maharashtra and has given on lease a wind farm in Tamil Nadu.
Karma Energy Ltd was incorporated on March 15, 2007 as a private limited company with the name Karma Wind Power Pvt Ltd. In March 12, 2010, the company was converted into a public limited company and the name was changed to Karma Wind Power Ltd.
In October 2010, as per the scheme of arrangement, the power undertaking of Weizmann Ltd was de-merged and transferred to the company with effect from appointed date, April 01, 2010. Also, the name of the company was changed from as Karma Wind Power Ltd to Karma Energy Ltd with effect from December 29, 2010.
Pursuant to the scheme, Almi Hydro-Electric Projects Ltd, Baledh Energy Projects Ltd, Batot Hydro Power Ltd, Brahmanvel Energy Ltd, Greenweiz Projects Ltd, Joiner Hydro Power Projects Ltd, Khandesh Energy Projects Ltd and Vajharpada Energy Ltd became the subsidiaries of the company. These subsidiary companies are SPV's executing power projects and carrying operation & maintenance of wind farms.
The company's equity shares were listed on Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE) with effect from June 28, 2011.
In August 2011, the company approved the scheme of amalgamation of Avirodh Financial Services Ltd with the company. The amalgamation appointed date will be opening hours of business on April 01, 2011.
The company would be focusing on the core business of power generation from renewable energy sources primarily wind and small hydel projects either directly or through the subsidiary special purpose companies.
The renewable energy projects being developed in the subsidiaries are at various stages of obtaining requisite approvals from relevant authorities, study of potential of wind, evaluating the power evacuation system etc. A 3.5 MW small hydel project in Chamba Himachal Pradesh in one of the subsidiaries is nearing completion and expected to be commissioned during the financial year 2011-12.
The company plans to add installed capacities of minimum of 10 to 15 MW wind farm every year to begin with.