Bhoruka Power acquires SLS Power Industries for Rs 80 crore

Mumbai, July 05 (UNI) Bangalore-based Bhoruka Power Corporation Limited (BPCL), part of the leading Bhoruka Group, today announced the acquisition of SLS Power Industries for Rs 80 crore.

The Bangalore-based SLS Power Industries has two hydro stations at the Kaveri and Tungabadhra bases with a total capacity of 12 MW.

With this acquisition, BPCL is augmenting its presence in the power sector in India with a revenue target of Rs 200 crore by 2009, the company said in a release here today.

Bhoruka Power is today the leader in Small Hydro in the country, having implemented 89 MW consisting of 15 hydro stations and two wind power plants.

Speaking on the acquisition, Mr S N Agarwal, Chairman, Bhoruka Group, said ''While conventional power remains the backbone of the energy industry, India is one of the key contributors to the global environment movement and has recognized the need for augmenting at least 10 per cent of capacities through the Renewable Energy mode''.

UNI