CLP India rebrands as Apraava Energy

CLP India — which runs 3,150 megawatt (MW) power generation assets in the country — has rebranded itself as Apraava Energy, as the company aims to double the size of business in the next four years by adding non-polluting electricity generation capacity to its portfolio.

Apraava Energy, currently owned jointly by the Hong Kong-based CLP Group and Canada-based investment group CDPQ, will also seek to encourage participation of local shareholders in the medium term.

“The rebranding process will also include the change in shareholding structure, wherein Indian shareholders will have meaningful ownership in the company in the next five years, either through an IPO or any other means,” Rajiv Ranjan Mishra, managing director of Apraava Energy told FE. “We will invest only in non-carbon, which can include renewable energy, battery storage, transmission or consumer-facing power distribution business,” Mishra added while elaborating on the company’s future plans.