CLP India is being renamed Apraava Energy and aims to double its energy portfolio in the next three-four years by investing close to the same sum it had invested since 2002.
CLP India is jointly owned by Hong Kong-based CLP and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ).
CLP India has all the necessary clearances from the government and the rebranding is not triggered by geopolitical developments but had been in the making for a few years.
The rebranding has been driven by three themes -- revenue growth, sustainability and widening of the shareholder base by inducting Indian shareholders, potentially through an initial public offering.
Apraava Energy aims to double its energy portfolio in the next three-four years from an installed capacity of 3,150 MW currently, expand its power transmission capacity and enter the power distribution business. It has invested Rs 18,000 crore so far.