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India
is a developing country and in constant need of energy. India
is faced with a constant shortage of power due to its vast infrastructure
and burgeoning demands. The Government of India and respective
State Governments are now engaged on a war footing to speed
up and meet up the country's energy needs. The Master Group
keeping the welfare of the nation in mind entered into power
generation.
In 1993 a mini MW hydro power plant in Heggadevanakote TQ,
Mysore District (Karnataka) was awarded to the International
Power Company Limited of Houston U.S.A, in the name of Kalson
Power Tech Pvt. Ltd. to execute the 3 MW Nugu Power Project
in the Nugu Valley.
The Master Group absorbed Kalson Power Tech Pvt. Ltd into
its fold in 1998, thereafter obtained World Bank loan to execute
the Project.
The construction at site has already been completed and the
plant has commenced commercial generation from Aug 2003. A
Power Purchase agreement to this effect has been signed for
20 years with the Karnataka Electricity Board. From 2003,
Master Power has been supplying approximately 8 million units
per year to the Karnataka State Electricity Board and contributing
its might towards the supply of electricity to Karnataka State.
Master Group is committed to venture into more infrastructure
projects which are beneficial to the nation and which ensure
that India becomes an Economic Super Power in time to come.
Kalson Power Tech was thereafter merged with Master Marine
Services Pvt. Ltd, to form Master Power (A Divn.of MMSPL).
The total cost of the project was INR 150 million.
The Group has plans to develop more such projects and mainly
concentrate on renewable energy only. It has therefore been
decided in principle that the company will develop Hydro and
Wind Power Energy on a regular basis and have a target of
100 MW in the future.
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