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Transmission towers above a city at dusk, framed by the Apraava triangle

Many Currents, One Direction: Advancing with Smart Intent

Over the past year, Apraava Energy has continued to strengthen its position as an integrated energy solutions provider. Growth across renewable energy, transmission, and smart metering, together with deeper investments in digital capabilities, reflects our focus on building a cleaner, smarter, and more connected energy portfolio. The divestment of our thermal business also marked an important step in this evolution.

Our theme, Many Currents, One Direction: Advancing with Smart Intent, reflects how long-term value is created by aligning technology, capital, people, partnerships, governance, and communities towards a shared purpose. As India's energy system continues to evolve, we remain focused on advancing with clarity, discipline, and intent.

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Powering India's Energy Journey
Rajiv Ranjan Mishra, Managing Director, Apraava Energy RRM

Message from the
Managing Director

India's energy transition is creating opportunities that extend well beyond new capacity. It calls for resilient infrastructure, intelligent systems, disciplined investment, and collaborative ecosystems. At Apraava Energy, we continue aligning these many currents to create long-term value while supporting India's journey towards a cleaner, smarter, and more resilient energy future.

I invite you to explore our Integrated Report, which captures how we are advancing this journey through purposeful transformation and responsible growth.

— Rajiv Ranjan Mishra
Managing Director
Read in Full

Message from IEX Members

ESG Performance Highlights

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Key highlights
  • Record generation and availability driven by stronger operational discipline and smarter systems.
  • Implementation of robotic dry-cleaning systems.
  • Deployment of bird diverters across sensitive transmission corridors.
  • Launched a pilot of DISCOM GPT to enhance utility insights through AI-driven smart meter analytics.

Note: The difference in cumulative meter installation reflects phased execution, site readiness, and regulatory clearances in selected states.

  • Enhanced biomass co-firing to 232,626 metric tonnes.
  • 99.49% utilisation of ash and 100% of gypsum.
  • Zero Waste to Landfill certification.
  • Zero liquid discharge system in operation.

Note: JPL was divested from Apraava Energy’s portfolio on 27th March, 2026.

External assessment

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ESG score of 66.33 for FY 2025–26 by Sustainable Fitch, reflecting a strong ESG profile supported by robust management systems, transparent disclosures, and strategic integration of ESG priorities.

CDP disclosure
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BWater
ASupply chain engagement*

A 'B' score reflects robust environmental management systems and structured approaches to managing climate- and water-related risks, demonstrating continued progress in embedding sustainability across our business.

*Part of Climate questionnaire

Our Presence and Business Assets

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Owning entity
  1. 1Apraava Energy Private Limited
  2. 2Apraava Renewable Energy Private Limited
  3. 3Apraava Wind Energy (Theni - Project II) Private Limited
  4. 4Apraava Wind Energy (Khandke) Private Limited

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Clear the filter to see all twenty nine generation, transmission and metering entries.

Double Materiality and
Stakeholder Engagement

This year we refreshed our Double Materiality Assessment (DMA)
to reflect Apraava Energy's evolving low-carbon portfolio across renewable energy, transmission, and Advanced Metering Infrastructure

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Material topics identified through an ESRS-aligned double materiality approach
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Impacts, Risks, and Opportunities (IROs) mapped across the value chain
  • Refreshed assessment aligned to Apraava's transformed portfolio.
  • Enhanced integration of ESG priorities into enterprise risk management and long-term strategy.

The refreshed DMA strengthens our ability to identify where our business creates the greatest impact, where ESG-related risks and opportunities may influence performance, and how the interdependencies between these factors support long-term value creation.

Wind turbines, a river barrage and solar panels at sunrise

Value Creation Model

Our Value Creation Model demonstrates how financial, manufactured, intellectual, human, social & relationship, and natural capital interact to drive Apraava Energy's strategy and long-term value creation. By recognising these interdependencies, we strengthen decision-making and build a more resilient, integrated business.

Our Full Value Creation Model

Our Six Integrated Capitals

Engineers at a wind farm at sunset

We build the systems that power progress. Apraava Energy’s manufactured capital includes the assets, systems, and processes that support power generation, transmission, and smart energy management.

  • Divested our only thermal asset, reinforcing our strategic focus on clean energy growth.
  • Achieved highest-ever wind generation of 2,426 GWh.
  • Advanced construction of 550 MW solar capacity at Bhanipura, Rajasthan.
  • Operationalised the 44 ckm Fatehgarh-IV transmission line.
  • Reached a cumulative smart meter award quantity of 9.7 million.
View Complete Capital
Engineers reviewing data at a solar farm

Information, when left scattered, slows a system down. When brought together, it sharpens intent. As AI begins to layer itself onto connected systems, data is moving beyond visibility toward interpretation, enabling faster and more responsive decisions.

  • End-to-end digitisation of core processes with system-driven controls and real-time visibility.
  • Business-led digital execution improving accountability and speed of adoption.
  • Development of DISCOM GPT, an AI-led interface layered onto existing AMI data systems.
  • ISO 27001:2022 compliance extended; enterprise-wide cyber audit completed.
  • DPDP readiness roadmap underway with full compliance targeted in 2026.
View Complete Capital
Aerial view of farmland and a village

Natural capital shapes our business in more ways than one. Energy generation draws on multiple environmental resources, each with its own constraints, rhythms, and dependencies. Managing these together requires a steady sense of direction, especially as operating conditions become more complex.

  • Transitioned portfolio towards renewable energy, supported by the divestment of thermal assets.
  • Advanced biodiversity governance through a new Biodiversity Policy.
  • Reduced operational water consumption through dry cleaning of solar panels and efficient water systems.
  • Enabled issuance of 2.02 million tonnes of carbon offsets through renewable energy assets under global carbon standards.
  • Strengthened water security beyond operations through Apraava Jal Sanchay across 100+ villages.
View Complete Capital
Apraava Energy team at an Earth Energy Us event

Our people remain central to how we build, operate, and grow the business. At Apraava Energy, our ability to deliver reliable infrastructure, scale new businesses, and navigate a changing energy landscape rests on a workforce that is future-ready, capable, and aligned with our purpose.

  • Strengthening stakeholder trust through human rights and responsible practices.
  • Building future-ready talent through leadership development and evolving capabilities.
  • Advancing DEIB through equitable workplaces and industry-wide conversations.
  • Accelerating digitalisation for agile decisions and stronger governance.
  • Enhancing employee experience through listening, recognition and connected digital platforms.
View Complete Capital
Children flying paper birds near a wind turbine

Our social capital is shaped through trust, continuity, and shared progress. And our relationships are strengthened through collaboration, alignment, and long-term partnership.

  • 1,000+ girls supported and 350+ trained in life skills and safety.
  • 14.6% increase in employee volunteering hours.
  • Issued gap assessment reports on ESG parameters for 15 suppliers, with 8 felicitated at CII Sustainability Summit.
  • Introduced Social Return on Investment (SROI) as a formal programme evaluation tool.
View Complete Capital
Transmission corridor lit up at dusk

Financial capital reveals intent. It shows where we act, where we hold back, and what we choose to build over time. Deployed well, it steadies the present and prepares for what comes next.

  • Disciplined growth aligned with transition to a cleaner energy portfolio.
  • Expanded capital market access with diversified funding sources.
  • Balanced debt strategy across fixed and floating rate instruments.
  • ESG integrated into financing, shaping lender evaluation and capital access.
  • Green Finance leveraged: ₹12,650 million.
  • Maintained IndRa Credit Ratings to AA+ in FY 2025-26.
View Complete Capital

Annexures and Disclosures

Explore detailed reports, regulatory disclosures and additional resources that complement our Integrated Annual Report for FY 2025-26.

Case Studies

Six things we built this year.
01 · Metering
Engineers inspecting a smart meter panel on site

Enabling Smarter Power Distribution with DISCOM GPT

Apraava Energy developed DISCOM GPT, an AI-powered platform that helps utilities transform smart meter data into actionable insights. From demand forecasting to predictive maintenance, it is enabling smarter, more efficient distribution networks.
02 · Operations
Wind turbines across green hills

Upgrading Intelligence Across Operations and Workforce

By integrating operational and workforce data into connected digital platforms, Apraava has strengthened real-time visibility, improved decision-making, and enabled faster, data-led interventions across renewable assets and people processes.
03 · Community
Apraava Jal Sanchay team members

Community Water Stewardship and Resilient Livelihoods

Through Apraava Jal Sanchay, long-term investments in water conservation continue to strengthen groundwater availability, improve agricultural resilience, and support sustainable livelihoods across communities.
04 · Workplace
Apraava Energy colleagues at the office

Creating a More Connected Digital Workplace with MyGrid

Apraava enhanced its digital workplace ecosystem, strengthening communication and collaboration across locations, giving employees a mobile-first platform to share stories, recognise achievements, and stay connected.
05 · Inclusion
Village at sunset near a transmission tower

Leading Industry Dialogue on Workplace Inclusion

Apraava convened the energy and manufacturing sector's first DEI Roundtable, bringing together industry leaders to exchange ideas and accelerate meaningful action towards more inclusive workplaces.
06 · Capital
Engineers surveying a project site

Integrating ESG into Financial Decision-Making

Environmental and social considerations are now embedded across project financing and lender due diligence, strengthening governance, improving execution, and aligning capital deployment with long-term sustainable growth.