Integrated Report 2021-22

SUSTAINABLE ENERGY. EMPOWERED LIVES. HAPPY PLANET.

Energy is essential for our very existence. While we consume it in various forms, it is imperative to be mindful of how we consume it and, at the same time, generate energy responsibly to ensure its continued availability in the present as well as in the future.

At Apraava Energy, sustainability is embedded right into our ethos. We have continuously worked towards responsible utilisation of resources for generation of energy over the last two decades.

Enhancing our renewable energy portfolio and reducing the carbon footprint of our business have been strategic focus areas of our organisation for more than a decade. Driven by these overarching goals, we have successfully increased our renewable generation capacity to 47% of the total energy output within a short span of time. We are now taking concrete steps to enhance it further and become a leading name in the renewable energy sector in India.

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BUSINESS AT A GLANCE

Transitioning to a Low Carbon Future

Apraava Energy’s core business activities are generation of thermal & renewable power as well as transmission of electricity in India. We are one of India’s leading Independent Power Producers (IPPs) in the private sector for close to two decades.

924

MW wind farms across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka and Tamil Nadu

250

MW solar projects in Telangana and Maharashtra

494

km transmission line in Madhya Pradesh, and across Assam, Nagaland & Manipur

1,320

MW coal-fired supercritical power station in Haryana

Our Purpose

Em-Powering lives sustainably for a happy planet

Our Vision

To partner in India’s energy transition by being the most trusted, inclusive and integrated energy solution provider

Our Mission

To provide reliable and affordable energy solutions to the nation with a focus on innovation and sustainability

Our Values

Operational
Excellence

Respect for
All

Sustainability
through Responsibility

Result
Orientation

MANAGING DIRECTOR’S MESSAGE

“Apraava Energy’s growth targets are deeply intertwined with India’s Net-Zero mission. Reflecting this ambitious goal and preparing us for the next leap are the organisation’s renewed purpose, vision, mission and values supplemented by endeavors in decarbonisation, biodiversity conservation, resource conservation, and global-standard governance practices.

With resolute actions connected to DE&I, we aspire to be an employer of choice and be counted among sustainability leaders in the Indian power sector.”

Rajiv Ranjan Mishra
Managing Director
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Leadership MESSAGE

Samir Ashta

Director – Finance & Chief Financial Officer

“One of the major contributors to Apraava Energy’s growth journey has been our ability to be financially robust and resilient. Along with the majority of the organisations across the world, Apraava Energy too is moving towards building a greener economy with its focused investments in low-carbon opportunities. As a climate-conscious organisation, we are integrating ESG parameters in all that we do, so that we are able to comprehensively assess our footprint and impact.”

Malcolm Wrigley

Chief Operating Officer

“Operational efficiency with an unequivocal emphasis on safety and use of advanced technology are the building blocks on which Apraava Energy’s operations grow and sustain. We are enthusiastically working towards doubling our portfolio by 2025 to meaningfully contribute to India’s energy transition. Our biggest wind farm yet, with an installed capacity of 250 MW, will be ready for operations in FY 2022-23, a firm step in this direction. We have committed to the Science Based Targets initiative (SBTi) and have also signed the India Business and Biodiversity Initiative (IBBI) to strengthen our ongoing commitment in this area.”

Naveen Munjal

Director – BD and Commercial (Conventional)

“Apraava Energy is consciously focusing on foraying and expanding into low or no carbon businesses within the energy sector. The acquisition of our second transmission project viz. Kohima-Mariani Transmission Limited (KMTL), is a step in that direction. With a vision to connect various regions of our country through transmission projects and other customers facing businesses, we will continue to identify and invest in strategic projects and diversify our portfolio.”

Mahesh Makhija

Director – BD and Commercial (Renewables)

“Apraava Energy is committed to participating in India’s transition into a greener future and aims to provide clean, efficient, and sustainable energy. 47% of our current installed capacity is renewable energy led and we are working towards expanding our installed renewable capacity through greenfield projects and strategic acquisition. Apraava Energy is poised to become one of the strongest players in India’s renewable energy market.”

Gopinath Govindan

Director – Human Resources

“In FY 2021-22, we successfully completed the transition to our new brand identity – Apraava Energy – on all fronts. To ensure that the transition is meaningful, we undertook an ambitious Purpose-Vision-Mission-Values revisit exercise involving all our employees through focused group discussions, large-scale interactive engagements and leadership workshops. Our renewed Purpose-Vision-Mission-Values reflect the ambition of the new entity with a special emphasis on sustainable shared value. Similarly, we have also adopted a new competency framework: G.R.O.W. which stands for Growth Mindset, Result Orientation, Openness to Change and Working with Synergy, to prepare our employees for leading Apraava into the future.”

Sudipta Ghosh

General Counsel

“Apraava Energy is committed to being a leading player in India’s energy transition sector, and sustainability is holistically integrated into our business strategy. We believe that the success of an organisation is defined by long term well-being of the ecosystem we operate in and accordingly we provide the right environment for creating an equitable and empowered workforce. We have taken several decisive steps in that direction. We are signatories to the Women Empowerment Principles (WEP) established by UN Global Compact and UN Women. We also have a robust Diversity, Equity & Inclusion (DE&I) roadmap that has been created through extensive deliverations including an organisation-wide survey, focused group discussions and a visioning exercise.”

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OUR
PRESENCE

Corporate HQ

Mumbai, Maharashtra

  • 50.4 MW

    Sipla Wind Farm, Jaisalmer, Rajasthan

  • 102.4 MW

    Bhakrani Wind Farm, Jaisalmer, Rajasthan

  • 100.8 MW

    Tejuva Wind Farm, Jaisalmer, Rajasthan

  • 100.8 MW

    Samana Wind Farm, Jamnagar & Rajkot, Gujarat

  • 50.4 MW

    Mahidad Wind Farm, Rajkot, Gujarat

  • 92 MW

    Chandgarh Wind Farm, Indore, Madhya Pradesh

  • 50.4 MW

    Khandke Wind Farm, Ahmednagar, Maharashtra

  • 106.4 MW

    Andhra Lake Wind Farm, Pune, Maharashtra

  • 60 MW

    Jath Wind Farm, Sangli, Maharashtra

  • 72 MW

    Saundatti Wind Farm, Hubli, Karnataka

  • 39.6 MW

    Harapanahalli Wind Farm, Davangere, Karnataka

  • 99 MW

    Theni Wind Farm, Theni, Tamil Nadu

  • 100 MW

    Veltoor Solar Farm, Mehbubnagar, Telangana

  • 50 MW

    Gale Solar Farm, Dhule, Maharashtra

  • 20 MW

    Tornado Solar Farm, Dhule, Maharashtra

  • 30 MW

    Cleansolar Renewable Energy Private Limited (CREPL), Gingurthy, Telangana

  • 50 MW

    Divine Solren Private Limited (DSPL), Mallapur Village, Telangana

  • 240 km

    Satpura Transmission Private Limited, Madhya Pradesh

  • 254 km

    Kohima-Mariani Transmission Private Limited, Assam, Nagaland & Manipur

  • 1,320 MW

    Coal-fired power plant : Jhajjar Power Limited (JPL) Jhajjar, Haryana

  • 655 MW

    Dual fuel Combined Cycle Power Plant (CCPP) : Paguthan Power Plant, Bharuch, Gujarat (*in operating condition, not dispatching power)

*This map is only for illustration purpose.

MATERIAL ISSUES IMPACTING VALUE CREATION

Materiality assessment enables us to identify and prioritise key ESG issues that play a critical role in our business strategies, investments, business operations and have the capability to create value for stakeholders in the long run. It acts as a strategic business tool with implications beyond corporate responsibility or sustainability reporting.

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Environment

  • Climate Change
  • Water Management
  • Air Emissions
  • Waste Management
  • Ash Management
  • Biodiversity
  • Environmental Compliance

Social

  • Safety & Well-being
  • Supply Chain Management
  • Community Engagement
  • Employee Engagement
  • Training & Skill Development
  • Diversity,Equity & Inclusion

Governance

  • Economic Performance
  • Operational Excellence
  • Digital Transformation
  • Risk Management
  • Data Security
  • Business Ethics, Integrity & Transparency

CLIMATE CHANGE RISKS & OPPORTUNITIES

CLIMATE CHANGE RISKS & OPPORTUNITIES

There is growing worldwide consensus that urgent and sustained actions are required to address climate change. Unless climate change is tackled head on and swift actions are taken, there will be critical existential challenges and immediate survival implications for community at large and mankind. As part of our commitment to operate ethically and sustainably, we initiated an exercise to identify relevant current and emerging climate-related risks and opportunities to understand the impact these risks may have on our business strategy, capitalise on opportunities, and incorporate findings in future decision-making processes.

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VALUE CREATION FRAMEWORK

There is growing worldwide consensus that urgent and sustained actions are required to address climate change. Unless climate change is tackled head on and swift actions are taken, there will be critical existential challenges and immediate survival implications for community at large and mankind. As part of our commitment to operate ethically and sustainably, we initiated an exercise to identify relevant current and emerging climate-related risks and opportunities to understand the impact these risks may have on our business strategy, capitalise on opportunities, and incorporate findings in future decision-making processes.

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OUR SIX 'INTEGRATED' CAPITALS

MANUFACTURED

INTELLECTUAL

NATURAL

HUMAN

SOCIAL &
RELATIONSHIP

FINANCIAL

MANUFACTURED CAPITAL

By generating a steady cash flow, improving safety standards, and optimising use of resources, Apraava Energy is consolidating its position as a ‘benchmark of excellence.’ While transitioning to clean energy, the organisation is also integrating energy optimisation in its business operations.

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  • 250

    MW Operational
    Capacity

  • 454

    GWh Renewable Energy Sent Out

  • 20.88%

    Capacity Utilisation Factor

  • 924

    MW Operational
    Capacity

  • 1,664

    GWh Renewable Energy Sent Out

  • 21.07%

    Capacity Utilisation Factor

  • 1,320

    MW Operational
    Capacity

  • 7,242

    GWh Conventional Energy Sent Out

  • 67.08%

    Capacity Utilisation Factor

  • INR 72,078 million investment in RE Projects

  • 494km

    400 kV
    transmission lines

INTELLECTUAL CAPITAL

Our Strategic Digital Transformation journey roadmap is long term process with well-planned fundamental company-wide initiative, which is IT Innovation aligned with our business goals, technology & cultural shift with leveraging technology that adds value and creating new business model & opportunities.

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  • INR 23.32 million
    Investment in Digital Interventions

  • Implementation of Central Monitoring Facility for RE sites

  • ERP Implementation

NATURAL CAPITAL

We aim to effectively manage the lifecycle impact of our operations by maximising energy and water efficiency, reducing emissions, minimising waste and protecting biodiversity while also fulfilling regulatory compliance requirements.

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  • 0.70 tCO2e/MWh GHG Emission Intensity

  • 100% Hazardous Liquid Waste Recycled

  • Signatory of India Business and Biodiversity Initiative (IBBI)

  • 100% Fly Ash and Gypsum Utilisation

  • 1.67 kl/MWh
    Specific Water
    Consumption

HUMAN CAPITAL

Employees are the most valuable asset of Apraava Energy and there is a constant effort to build a conducive environment that supports their growth and aspirations. In order to create a resilient and sustainable organisation, we focus on the health and safety of our employees, facilitate regular training and development programs.

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  • Total Strength
    385 Male
    54 Female

  • INR 9.2 million invested in Training & Development

  • 97% Employee Training Coverage

  • 0% Fatality Rate

SOCIAL & RELATIONSHIP CAPITAL

Apraava Energy engages in long-term partnerships with credible non-governmental and charitable organisations with national, regional or local reach for the implementation of various CSR projects. We focus on initiatives where our employees can volunteer to make a positive impact towards communities.

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  • CSR Expenditure
    INR 131.5 million

  • 98% Local non-fuel Sourcing (purchase order cost basis)

  • Lives Impacted
    627,640

  • Villages Touched
    ~218

FINANCIAL CAPITAL

Apraava Energy aims to invest in business opportunities that are futuristic and sustainable. A prudent financial management system coupled with an ideal capital structure has been put in place to achieve higher financial returns consistently. Going forward, we have committed to invest over 100% of our budgeted capex for new projects into renewable energy and low/no carbon emissions projects.

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  • Revenue Generated
    INR 46,796 million

  • Profit After Tax
    INR 1,313 million

  • EBITDA
    INR 14,711 million

  • Return on Capital Employed 4.6%

CASE STUDIES

  • PROGRESSIVE CENTRALISED LUBRICATION SYSTEM

    Apraava Energy initiated the replacement of existing ‘single point lubricators’ on 10 wind turbine generators at Khandke Wind Farms with ‘progressive’ Centralised Lubrication System (CLS).

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  • GOING GREEN – PAPERLESS BOARD MEETINGS

    Using digital tools and technology, Apraava Energy has achieved complete automation of Meeting Management and Secretarial Compliance Process and now conducts paperless meetings.

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  • BASELINE BIODIVERSITY SURVEY AT JPL

    Biodiversity assessment has been conducted at JPL for all three seasons as per IBBI directives to map the business linkages with biodiversity and ecosystem services and to identify the risks and opportunities across our value chain.

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  • RIGHT ENVIRONMENT AT WORKPLACE

    We began conducting sessions for enhancing awareness of our contractual workforce at JPL regarding the values and culture at Apraava Energy while also educating them on various social welfare schemes by the government.

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  • INTEGRATED RENEWABLE ENERGY BASED MODEL VILLAGES

    With the aim of providing community lighting solutions using renewable energy solutions, we launched this project in the villages of Karnataka and Telangana where our wind farms are located.

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