Karma Energy Ltd Company Summary

Karma Energy Limited was incorporated on March 15, 2007 as a private limited company with the name Karma Wind Power Pvt Ltd. On March 12, 2010, the company was converted into a public limited company and the name was changed to Karma Wind Power Limited. Post the amalgamation, the name of the Company was further changed from Karma Wind Power Limited to Karma Energy Limited with effect from December 29, 2010.The Company is a part of the Weizmann Group with business interests in Textile Processing and Exports and FinTech.

Presently, it engage in generation of power from renewable energy sources like Wind. It has wind farms in Andhra Pradesh, Tamil Nadu and Maharashtra. In October 2010, through the Scheme of Arrangement, the Power Undertaking of Weizmann Ltd was demerged and transferred to the Company effective from April 01, 2010.

Pursuant to the Scheme, Almi Hydro-Electric Projects Ltd, Baledh Energy Projects Ltd, Batot Hydro Power Ltd, Brahmanvel Energy Ltd, Greenweiz Projects Ltd, Joiner Hydro Power Projects Ltd, Khandesh Energy Projects Ltd and Vajharpada Energy Ltd became the subsidiaries of the Company. A 3.5 MW Small Hydro Project at Chamba, Himachal Pradesh of the subsidiary Company Batot Hydro Power Ltd was commissioned on June 16, 2012.In 2021-22, the subsidiary, Greenweiz Projects Limited got merged with the Company through the Scheme of Amalgamation and the merger became effective from 01.04.2019. Batot Hydro Power Ltd ceased to be subsidiary of the Company during the year 2021-22.In FY 2023-24 the Company decided to close AP wind farm of 7.5MW due to very low tariffs being offered by AP Utility.

As far as Companys Wind Electric Generators (WEGs) in Maharashtra is concerned, the sale has been shifted to TATA Power Trading from October 2023 post refusal to grant Short Term Open access by MSEDCL.