EDC sets up UK subsidiary

PTI New Delhi | Updated on March 17, 2011 Published on March 17, 2011

Energy Development Company today said it has set up a subsidiary in the United Kingdom (UK) for trading and consultancy business.

The company is into power generation and various infrastructure development businesses.

In a regulatory filing, Energy Development Company said it has formed a wholly owned subsidiary by the name ‘EDCL (Europe) Ltd’ in the UK.

The firm in a separate filing said it is in the process of acquiring five hydro-electric projects having a total capacity of 56 MW.

Two projects — having a capacity of 39 MW — is in Arunachal Pradesh, while three are in Uttarakhand.

These would be acquired “by way of taking over 100 per cent share holding of the SPV companies formed for the said projects,” it said.

Shares of the company were down over 3 per cent from its previous close at Rs 35.40 in the late afternoon trade on the Bombay Stock Exchange.

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Published on March 17, 2011
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