|The Company was originally incorporated as Suryachakra Power Corporation
Limited on February 28, 1995 with registration no. 01-19554, in Hyderabad,
Andhra Pradesh under the Companies Act, 1956 and obtained certificate of
commencement of business on March 16, 1995. The Company was converted
into a private limited company with effect from August 9, 2000. Pursuant to this,
the name of the Company was changed to Suryachakra Power Corporation
Private Limited. The Company was re-converted into a public limited company with
effect from September 8, 2005 in terms of Section 31(1)/44 of the Companies Act,
1956. Pursuant to this, the name of the Company was changed to Suryachakra Power
Corporation Limited. The Company was promoted by Dr. S.M. Manepalli and his
Suryachakra had bagged the award to construct and operate a 20 MW Diesel based
Power Plant in Andaman & Nicobar Islands by the A & N Administration. The project
was awarded to Suryachakra in Competitive Bidding. Accordingly, PPA was signed by
the Chief Secretary, Andaman & Nicobar Administration on behalf of President of India
on 20th November 1997. This Power Station has to work as base loan station and supply
energy in the South Andaman i.e. Port Blair and nearby Villages.
It is the only company in the private sector to dedicate a thermal power plant in the union
territory of Andaman and Nicobar Islands to the nation.
The A & N administration declared commercial operation date for the plant at
Andaman and Nicobar with effect from April 01, 2003.
The Company has acquired 100% shareholding in the following three companies that
are also into power generation.
1. Lahari Power & Steels Limited
2. South Asian Agro Industries Limited
3. MSM Energy Limited
Lahari, SAAIL and MSM have become wholly owned subsidiaries on November 26, 2005,
November 21, 2005 and November 23, 2005 respectively.
- The equity shares of Suryachakra Power Corporation Ltd are listed and admitted to dealings on the Exchange in the list of 'B1' Group Securities.
- The units of the Company's 100% subsidiary Companies namely, M. S. M. Energy Ltd and Lahari Power & Steels Ltd have been registered for availing carbon credits under Clean Development Mechanism.
- Suryachakra Power Corporation Ltd (SPCL) has entered into MOU with China Guodian Corporation (CGC) for the development of its proposed 1200 MW IPP Coal based power project.
- The Company has entered into MOU with Government of Chattisgarh, Chattisgarh State Electricity Board for setting up of 270 MW Thermal Power Project in the state of Chattisgarh with a proposed investment of approximately Rs 1100 crores.
- The unit of the Company's 100% subsidiary Company South Asian Agro industries Ltd has been registered with UNFCCC for availing carbon credits under Clean Development Mechanism.
- M/s. South Asian Agro Industries Ltd having 10 MW Biomass Power Project located at Champa, Maharastra, a wholly owned Subsidiary of the Company, has started operations.
- The Company has acquired M/s. Suryachakra Power Venture Pvt. Ltd, one of its Group Companies, as wholly owned subsidiary of the Company.
- Suryacha.Pow - MoU with SunBorne and Citadel for establishing 5 MW Solar CSP.
- "MoU with American Bio Sources Inc., and EEFC Inc. USA for implementing up to 500 MW Renewable Energy Power Project".
-Suryachakra Power Corporation Ltd has fixed the project cost at Rs.77.64 crores as per the directions of APTEL