August 19th, 2012 - IMP Powers Limited celebrated is 50th year in business by announcing IMP Energy Limited, a subsidiary company of IMP Powers Limited. IMP Powers, a Rs 300 crore company growing at an rate of 30% CAGR is a name to reckon with in the transformer space and an established name in HV, EHV and power transformers manufacturing up to 400 kV class, 315 MVA. Mr P Umashankar, Union Power Secretary and Mr P Bordoloi, Power Minister, Assam, graced the launch of IMP Energy Limited.
Speaking at the launch Mr P Umashankar commented that "The power sector is growing at tremendous pace and this will continue for years to come. In just another 56 years, the transformer business, particularly the HV and EHV transformers, is likely to attract an investment of Rs 1,80,000 crores. As far as IMP Energy is concerned it is an extremely good strategic initiative to move into small and medium hydro projects. Whenever we think hydel we all think big and probably that is where the trouble arises. It is difficult to execute big projects for various reasons. We have a huge potential of hydro power in country around 1,50, 000 MV but we have not been able to tap 25% of this due to difficulties. I believe the way forward will be small projects like what IMP Energy will take up now. Small will not only be beautiful in this case but small could even be easy. In place of one 500 MV projects which may be working for ten years, may be 10 or 20 smaller projects quickly executed with the help of an excellent team like IMP would be the way forward."
The company which has already bagged orders worth Rs 70 crore from the Ministry of New and Renewable Energy (MNRE) will be setting up hydro power plants at Leh and Kargil under LREDA and KREDA (Ladakh Renewable Energy Development Agency & Kargil Renewable Energy Development Agency). It has further participated in tenders worth Rs 200 crore in the same region. Thus acting as a Project Management Consultancy (PMC) and EPC Company providing end to end solutions for setting up of small and mini hydro projects. All of these would all be run of the river projects where no dams would be needed to be built. They would not need any displacement of people nor major environment clearances, thus speeding up the process of lighting India.
Commenting on the launch of IMP Energy limited, Mr Aaditya Dhoot, Jt. Managing Director IMP Powers Limited, said "After making a name in the transformer business, going in for building hydro projects for Govt of India was a natural choice when we thought of expanding the current business, IMP Energy which will operate in the niche area of renewable energy sector has a great future ahead as India moves on from the traditional power sources available." Adding to the comment Mr Ramniwas R Dhoot, Chairman, IMP Powers said "The future will always be clean and green energy and with the abundance of water in our country, we aim to set up 100's of such small plants in the next decade!"
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