Athena Projects Pvt Ltd (APPL), Infrastructure Development Finance Company (IDFC) and PTC India Limited (PTC) announced the launching of Athena Energy Ventures Pvt Ltd, their partnership for foray into power projects.At a function organized for signing the Shareholders' Agreement for AEVPL, where the Union Minister for Power, Mr Sushil Kumar Shinde was the Chief Guest, the Chairpersons of the three partners discussed the Company's business objectives and plans.
Athena Projects, IDFC and PTC have come together to combine their unique skills for the development of power projects in India. The Company will strive to achieve a project portfolio of at least 10,000 MW by 2015.
The Company will strive to be a world class energy major with global operations. It shall be involved in all aspects of the energy cycle and shall seek opportunities for developing / acquiring generation, transmission and distribution assets, securing required long term fuel supply including captive mining, develop and construct associated infrastructure like fuel storage, pipelines, tankages and associated infrastructure like ports including coal berths, railheads, road transport.
The authorized equity capital of AEVPL will initially be Rs 750 crores. The shareholding by Athena Projects, IDFC and PTC will be in the ratio of 52:28:20. Based on the requirements, the authorized share capital shall be increased to Rs. 1500 crores or such other higher amounts as necessary.
Via:India Economic Times
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