Energy Development Live Stock/Share Price/Charts/Quotes

Energy Development Company (ENERGY) is engaged in the generation of electricity and infrastructure contracts. It was incorporated in 1995. The company is an energy production company. Its business plan includes oil and gas exploration and production, development of new technologies for the enhancement of oil and gas production, and merchant power and infrastructure development including integrated industrial site development. It focuses on development of hydro power projects. It has a 9 MW hydro electric plant in Harangi, where an additional capacity of 6 MW is being set up as part of its expansion plans. A 7 MW hydro electric project has been set in Ullankal, which was acquired from TECIL Chemicals & Hydro Power. In 2007, the company signed a power purchase agreement with Hubli Electricity Supply Company in regards to its 6 MW Harangi Phase-2 Minihydel Project. It has decided to set up wind power energy in the state of Karnataka with a capital investment of approximately Rs 100 million and has approved a capital expenditure of approximately Rs 10 billion on the existing and new projects by 2010. The company received a contract valued at approximately Rs 140 million for the supply and supervision of commissioning of turbine/generator and associated works for a hydro electric project. Earlier in 2006, the company signed power purchase agreement with Karnataka Power Transmission and Chamundeshweri Electricity Supply, Mysore resulting into the revision in the rates of electricity. It secured a contract for the supply and erection of conductors from Himachal Futuristic Communications valued at Rs 380 million to be completed within 15 months and bagged orders for the supply of turbine and generation set with all associated accessories valued at Rs 680 million. The registered office of the company is located at Village Hulugunda, Somawarpet taluka, Kodagu, Karnataka-571233.