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Chairman's Statement

Dear Shareholders,


chairman Renewable energy resources exist over wide geographical areas, in contrast to   other energy sources, which are concentrated in a limited number of countries. The new government is working on a new renewable energy policy to facilitate speedy growth of the power and energy sector. The Ministry is preparing a Renewable Energy Bill to facilitate speedy growth of renewable energy power generation in the country.  Rapid deployment of renewable energy and energy efficiency is resulting in significant energy security, climate change mitigation and economic benefits. In international public opinion surveys there is strong support for promoting renewable sources such as solar power and wind power. At the national level, at least 30 nations around the world already have renewable energy contributing more than 20 percent of energy supply. National renewable energy markets are projected to continue to grow   strongly in the coming decade and beyond.


Your Company has been a part of this exciting growth by way of our various renewable energy projects, which includes the prestigious Maheshwar Project. Being a pioneer in the renewable energy business, we are the first private company to be awarded a hydro-electric project. The Maheshwar Project has been completed and is ready to run, with 3 turbines ready for generation. Your Company has thus, aligned its mission with that of the Government in harnessing the potential of renewable energy for the benefit of all. The Maheshwar Project is a clean and green project with zero carbon emissions. It will effectively change the lives of millions for the better, and provide much needed water and electricity to the people.


The focus will continue to be expanding the renewable energy business in the country by way of Solar Power and Photovoltaic projects in the country. Thanks to the various incentives provided by the Government, Your Company, being pioneers in the renewable energy space is best poised to capitalise on these incentives and bring about more innovation in the business of preserving the environment and further change for the better in the power scenario in the country.


I would like to sincerely thank the Members of the Board for their unwavering belief in our vision and mission of bringing about positive growth, while preserving the environment. I am also indebted to the faith placed in us by our valuable investors, stakeholders and employees and would, in particular, like to thank the Government for all the support rendered by them to Our Company as well as to the renewable energy sector on the whole.


I look forward to the future with optimism and I am certain that we shall make further strides in leading positive growth in the country, with the support of the Board, our Stakeholders, our Investors, our Government and our Employees alike.


Yours sincerely,


Mukul Kasliwal


Date: 22.12.2014

Place: Mumbai