Soham Renewable Energy - Empowering India by providing clean and green energy
Soham is an unique organisation, committed to meeting the nation's growing need of electricity through renewable energy generation. Soham is committed to clean power generation and has an in-house team of professionals who bring over a hundred man-years experience in hydropower generation
Tweet-- Soham is an unique organisation, committed to meeting the nation's growing need of electricity through renewable energy generation. Soham is committed to clean power generation and has an in-house team of professionals who bring over a hundred man-years experience in hydropower generation. The team has the capacity of executing small Hydropower projects conceptualization, design, approvals, clearance, tendering, vendor selection, project implementation, commissioning and maintenance.
A young company in the power sector, it is steered by K Sadananda Shetty, the former Chairman and Managing Director of Vijaya Bank. He has been credited for making Vijaya Bank, the fourth most profitable bank in India during his tenure. A former Vice Chairman of Indian Banks Association, Mr. Shetty has served on several Boards of prestigious organisations. He is currently the President of Renewable Energy Developers Association of Karnataka.
Soham is headed by Mr. Sanjith Shetty, an industrial engineer, who graduated as Class Valedictorian from the Fuqua School of Business, Duke University - a leading Business School in the United States. He is the Vice Chairman & Managing Director of Soham. Mr. Suchindra Shetty, Director Projects, is responsible for projects implementation.
The Soham Growth Plan
Soham operates on a multi-tier structure, wherein the power projects are set-up either in an existing wholly owned subsidiary company or implemented under the holding company. The company already has many power plant projects in various stages of implementation. The company is vying to be among the top three companies in this space. In Karnataka, besides these two operational plants, Soham is currently working on several projects which are under various stages of implementation totalling to an installed capacity of over 100 MW. For achieving this Soham has an ambitious business plan which envisages an investment of Rs 7000 Million in the small hydro segment in Karnataka, out of which the investment already made by Soham as on date is over Rs 2350 Million. The balance is proposed to be met partly by equity (30%) and partly debt (70%) , the utilization thereof spread over a period of next three to four years. This group has been very successful in getting FDI into this space since 2004. Today Soham has completed 2 successful rounds of Equity raising from leading Global Private Equity players such as D.E. Shaw & Co as well as FE Clean Energy. The group is in the final stages of closing its third round of equity raising. Soham and its subsidiaries are fortunate to be having the active support in its endeavours, of leading banks such as State Bank of India, Syndicate Bank, Andhra Bank, Axis Bank etc.
In order to have a Pan-India footprint, Soham is keenly looking at acquisitions in Uttaranchal, Himachal Pradesh, Sikkim, Maharastra, Madhya Pradesh, Meghalaya, Arunachal Pradesh etc. Besides adding projects in India, plans are also afoot to explore the possibilities of getting licenses from neighbouring countries like Sri Lanka etc.
First Hydropower project of Soham in Karnataka
Soham successfully commissioned its first Hydropower project the 'Mahatma Gandhi Hydro Electric Tail Race Scheme' a 22 MW hydropower plant in December 2007. The project was executed by Ambuthirtha Power Private Limited a subsidiary company of Soham. Very active in the CDM space, the Carbon Credits from this project are being fully sold to one of the largest utilities in Japan since 2007.
Soham commissions its second Hydropower Project in Karnataka
Soham Renewable Energy India (P) Ltd (SREIPL) announced the successful commissioning of its 'Soham Mannapitlu Power Project', located in Moodabidri, near Mangalore in the Dakshina Kannada District. The project is a 15 MW run-of-river hydropower plant located at the Gurupur stream off the River Netravati, which is one of the vast flowing rivers in coastal Karnataka. The electricity generated is evacuated through 110 KV double circuit lines to Moodabidri and transferred to the main power grid of Karnataka Power Transmission Corporation Limited . This is the second eco, enviro and people friendly project to be commissioned in Karnataka, by the Soham Group. With the commissioning of this project, the evacuation line for an additional 30 MW of projects belonging to the Soham Group downstream has been completed, which will lead to speedier execution of those projects.
Soham Truly Cares :
CSR Initiative : Soham has a very active and committed Foundation and through this social arm so far impacted over 3500 school going children in remote areas around its sites through their flagship of 'Vidya Programs' namely Vidya Ganaka (providing Computer education in partnership with The Azim Premji Foundation) and Vidya Bala Suraksha (providing Insurance and running Health camps) and Vidya Vahana ( providing transport to rural school going children in remote villages) programs.
Employee Focus : Soham, is one of the few companies in this space to have put in place an Employee Stock Ownership Plan (ESOP), and is therefore confident of achieving its goal mainly on the strength of its professional and dedicated team. In present day's business, competence and commitment are critical. And for both, Soham values its able Human Capital.For more information about Soham log on to www.sohamenergy.in , Call +91 80 41474832 or mail us on uma@sohamenergy.in
