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Hyderabad, July 21 Suryachakra Power Corporation Ltd, through its two wholly owned subsidiaries, has signed up with Tata Power Trading Company Ltd, for supply of 9.8 MW of power by each of these subsidiaries from October, for a period of five years.

Lahari Power & Steels Ltd and South Asian Agro Industries Ltd are the two subsidiaries of Suryachakra.

In a statement, the Surayachakra management said all the biomass-based power plants being set up by its wholly owned subsidiaries are eligible for carbon credits. These subsidiaries have entered into a CDM Emission Reduction Purchase Agreement with Ecoinvest Carbon SA, Geneva, on July 13 for sale of carbon credits.

The company operates a 20-MW power plant in Andaman & Nicobar Inslands and its three wholly owned subsidiaries are setting up two biomass plants of 9.8 MW each in Chhattisgarh and two biomass plants of 10 MW each in Maharashtra.

The company also has a category A licence for power trading.

Suryachakra recently entered the capital market to raise Rs 68 crore through the issue of 3.4 crore equity shares at Rs 20 per share. These shares are to be listed on the BSE on July 23.

More Stories on : Announcements | Power | Tata Power Co. Ltd

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