Energy Development Company Ltd

Energy Development Company Ltd

Energy Development Company Limited was incorporated as a public limited company as on the 19th January 1995. The company took over execution of Harangi Mini Hydro Electric Power project on BOT (Build Operate Transfer) basis for a period of 40 years from the date of commissioning of the project. Presently the Company is engaged in power generation infrastructure development such as construction of bridges hydro projects including operation and maintenance thereof supply of materials etc.Accordingly an agreement was entered between the Government of Karnataka and M/s. Public Power International Inc (PPII) a group company of NEES acting on behalf of NEES. In accordance with this agreement a new company was incorporated on the 19th January 1995 in the name of Energy Development Company Limited for executing the project.During the year 1999 the company signed Power Purchase Agreement with Karntaka Power Transmission Corporation Ltd (Formerly KEB) for sale of entire energy generated which would be valid for 20 years. The Harangi Hydro Electric Project was finally commissioned and synchronised with the grid on 14th July 1999.The Company set up an additional capacity of 6 MW at its Harangi project site in 2006. A newly Engineering & Contract Division was opened up.During the year 2006-07 the Company acquired 30000 (60% of total paid-up capital) Equity Shares of Rs.10/- each fully paid-up of M/s. Ayyappa Hydro Power limited (AHPL). It also acquired the remaining 20000 (40% of total paid-up capital) Equity Shares of Rs. 10/- each fully paid-up of AHPL and accordingly AHPL became fully owned subsidiary of the Company w. e.f. 10th January 2008. During 2007-08 Company set up a Wind Mill having a capacity of 1.5 MW at Hassan Dist. in Karnataka. The total generation from the Wind Mill which commissioned on 28.09.2007 stood at 1.18 million units. 7MW Ullankal Hydro Electric Project was commissioned in Kerala and also a 1.5 MW Wind Mill at Chitradurga in Karnataka in 2008-09. The Company acquired 100% Equity Shares of M/s. Dhanashree Projects Private Ltd w.e.f 20.05.2009 and of M/s. EDCL Power Projects Ltd. w.e.f. 28.05.2009 and accordingly they became wholly owned subsidiaries of the Company during the period 2008-09. The 7 MW Ullunkal Hydro Electric Project was transferred to EDCL Power Projects Limited w.e.f. 01.04.2009. In 2010-11 the capacity of existing 7 Hydro Electric Projects in Arunachal Pradesh was enhanced from 270 MWs to 373 MWs. The Company acquired 2 Hydro Electric Projects having an aggregate capacity of 39 MWs in the State of Arunachal Pradesh. It further acquired two private Limited Companies having 3 Hydro Electric Projects having an aggregate capacity of 17 MWs in the State of Uttarakhand.