News & Events

AD Hydro Power Limited wins Prestigious 'Oscar' of Power Industry
Press Note
12th Oct, 2012

AD Hydro Power Limited wins Prestigious 'Oscar' of Power Industry...

Himachal CM dedicates 192 mw AD Hydro power plant to the nation
Press Release
13th September,2012

Himachal CM dedicates 192 mw AD Hydro power plant to the nation

A Tribute to “Kabeer” by LNJ Bhilwara Group"
Press Release
5th September,2012

A Tribute to “Kabeer” by LNJ Bhilwara Group

ADHPL commissions 192 MW hydro power project in HP
Press Release
20th July,2010

ADHPL commissions 192 MW hydro power project in HP...

Bhilwara Energy to dilute ~10.8 per cent stake for Rs. 230 crores
Press Release
13th July,2010

Bhilwara energy to dilute 10.8 per cent stake of Rs. 230 crore...

Bhilwara Energy Limited bags two more hydro power projects in Arunachal Pradesh-09/01/2008
Press Release
9th January,2008

Bhilwara Energy Limited bags two more hydro power projects in Arunachal Pradesh

Bhilwara Energy Limited (BEL) a flagship company of the Power business of LNJ Bhilwara Group, has been awarded two more hydro electric projects- Angoline of 375 MW and Malinye of 335 MW in the state of Arunachal. By this, the Group’s plan has moved to more than 2850 MW hydro power generation capacity to be accomplished by 2015.

Bhilwara Energy Limited is emerging as one of the biggest player in power in the country. It would seek to grow organically as well as through acquisitions.

Background on LNJ Bhilwara Power Initiatives

The LNJ Bhilwara Group is a premium conglomerate with dominant interests in texitiles, graphite electrodes, power generation, power engineering consultancy, and IT enabled services. Global in vision, ingrained with Indian values, the Group is driven by a performance ethics pegged on value creation for its multiple statkeholders. The Rs. 3000 crore conglomerates are anchored by more than 25,000 employees. The Group announced incorporation of Bhilwara Energy Limited (BEL) in 2006 to give effect to its plans in the power sector.

The Group entered the power sector in early 90s. Following the success of its first hydro-electric power project of 15 MW at Tawa Nagar (MP) in 1997, the Group has commissioned, India`s first IPP hydro-electric Malana Power Project of 86 MW in a record time of 30 months at Kullu (HP), in July, 2001.

In 2004, it partnered with S N Power, Norway as JV partners for MPCL. MPCL is currently implementing the 192 MW Allain Duhangan Hydro Electric Project in the State of Himachal Pradesh. IFC, Washington has also taken 10 per cent equity in the said project.

Bhilwara Energy is also commissioning another 290 MW power projects in Arunachal Pradesh and 75MW of HEP in Punjab. The envisioned power generation capacity of the company is 2850 MW by the year 2015. The BEL will seek to grow organically as well as through acquisitions. The Group is also providing consultancy services in the field of energy generation in India, with emphasis on Hydro electric power generation under Indo Canadian Consultancy Services Ltd. a joint ventrure with M/s. RLW International, Canada.

PE Investors may pick 8% in Bhilwara Energy For 600Cr-09/01/2008
The Economic Times Delhi 9 January 2008
PE Investors may pick 8% in Bhilwara Energy For 600Cr
Glitnir to partner with leading Energy Company of India to establish Geothermal Energy in India and Nepal-23/11/2007

Glitnir and LNJ Bhilwara Group in India sign Memorandum of Understanding
Glitnir to partner with leading Energy Company of India to establish Geothermal Energy in India and Nepal
New Delhi, 23 November 2007 – Glitnir, the Nordic investment bank, and LNJ Bhilwara Group with operations in India and Nepal signed a Memorandum of Understanding (MoU) today to collaborate in developing geothermal power plants in India and Nepal. This MoU has been signed during the visit of the Finance Minister of Iceland on invitation from Finance Minister of India. The finance minister of Iceland H.E. Árni Mathiesen is on an official visit with a business delegation focused on Energy development in India.
Glitnir will play the role of bringing expertise in the geothermal field and financial structuring of projects related to development of geothermal sources. LNJ Bhilwara Group will play the role of local developer and manager of the project. Glitnir and LNJ Bhilwara Group will work together in developing the business plan and the project.

The MoU was signed in the presence of Mr. P Chidambaram, Hon’ble Minister of Finance for India and H.E. Arni Mathiesen, the Minister of Finance for Iceland. This MoU was signed by Mr. Awadh B. Giri, CEO-Power, of LNJ Bhilwara Group and Mr. Bala Murughan Kamallakharan, Executive Director of Strategic Growth in Glitnir.

Speaking on this occasion Mr. P Chidambaram, Hon’ble Finance Minister of India said “I am happy that this important MoU has been signed between Glitnir and LNJ Bhilwara Group. This will encourage prospects for growth in India in the geothermal arena. India has planned $475 billion investments in the next five years, out of which $120 billion- $ 130 billion will be achieved through FDIs. Initiatives such as this will surely contribute in achieving our investments targets.”

“Glitnir had successfully implemented a project in China where we brought expertise and funded the project to heat a district in the Xian Yang province in China. We believe similar projects can be developed in India” said Magnus Bjarnason, Executive Vice President of International Banking in Glitnir.
“India is a very exciting market for Glitnir especially in the Energy field given the projected growth of Energy demand in India, India needs all sources of energy especially renewable and green sources of energy like geothermal. We are delighted to partner with LNJ Bhilwara Group who has demonstrated their capacity in efficiently developing power plants in India” says Árni Magnusson, Managing Director of Sustainable Energy in Glitnir.

“We are eager to get started and develop geothermal power plants in India. LNJ Bhilwara Group was the first to develop a 100MW private merchant hydro power plant ahead of schedule and budget in India and has set new levels of realization in Hydropower Business in India. LNJ Bhilwara is continuing its growth and diversifying in Green Energy, besides the established leadership in Hydro business. It has set up 4.2 MW Wind Power Plant in Jaisalmmer and is now pursuing development of Geothermal Energy in India and Nepal. LNJ Bhilwara Group is developing a large number of Hydro Power plants in Punjab, Himachal Pradesh and Arunachal Pradesh besides in the neighboring countries of Nepal. We are looking forward to the collaboration with Glitnir and develop the first geothermal plant in India” said Awadh B Giri, CEO –Power of LNJ Bhilwara Group.

About Glitnir Bank
The Nordic based Corporate Investment bank and financial services group Glitnir offers services including retail, corporate and investment banking, stock trade/brokerage and capital management. Glitnir is a leading niche player in three global industry sectors:seafood/food, sustainable energy (geothermal energy) and offshore service vessels. Glitnir is one of the largest equity brokers in the in the OMX stock exchange in Sweden, Finland, Denmark and Iceland, as well as on the Oslo Stock Exchange in Norway and the Stock Exchange in Moscow in Russia. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada China, and U.S. (Glitnir Capital Corporation). Glitnir is listed on the Icelandic Stock Exchange (GLB).