Surana Telecom acquires Arhyama Energy Private Limited

MUMBAI, India - April 15, 2015 - PRLog -- Mumbai, Wednesday April 15, 2015: Telecom and solar energy major Surana Telecom and Power Ltd, today acquired majority stake of 51% in Arhyama Energy Private Limited, a renewable energy company, situated at Nalgonda District, in Telangana State.

The company has proposed to setup a 10MW Solar Power Plant at Kolanupaka Village, situated in the Nalgonda District of Telangana State for which the project company has entered into long term PPA with a Multi-National Company for supply of power under Open Access Route. The total investment outlay is estimated to be Rs.82.80 Crores.

Surana Telecom and Power Ltd is successfully running its 5 MW Solar Power Project situated at Gujarat Solar Park, Charanaka Village, Santapur Taluk, Patan District, Gujarat and 5 MW Solar Power Plant through its subsidiary M/s Surana Solar Systems Private Limited at Shankapur Village, Shankarampet Mandal, Medak District, Telangana.

Further 10 MW Solar Power Project is under construction/implementation through subsidiary M/s. Celestial Solar Solutions Private Limited at Tingloor Village, Madhugiri Taluk, Tumkur District, Karnataka.

This takes the total installed and under execution capacity to 30 MW in the Company and through Subsidiaries.

About Surana Telecom and Power Ltd:

SURANA TELECOM & POWER LTD was incorporated as a Private Limited Company on 14.08.1989 as Surana Petro Products Pvt. Ltd and was engaged in the business of manufacturing of Petro Products such as Petroleum Jelly and Telecom products such as Jointing Kits. In 1992 the Company ventured into the Telecommunication sector with the production of Jelly filled Telephone Cables.

Thereafter, the Company was converted into a Public Limited Company on 09.07.1993. By 1994, Telecom business became the primary business activity of the Company and in order to reflect the same the name of the Company was changed to Surana Telecom Ltd. on 05.08.1994.

Keeping in pace with the changing technology the Company decided to expand further in the Telecommunication sector by venturing in to the production of Optical Fiber Cable. For part financing the cost of optical fiber cable project, the Company had gone in for a public issue on 7th November, 1994 and commenced the commercial production in July, 1995.

The Company in the year 2001 set up a manufacturing facility for optical fiber which is the main raw material for the manufacturing of optic fiber cables. In the year 2002, the Company ventured into assembling and marketing of GSM phones, CDMA terminals with accessories and Line Patch Panel Antenna.

In the year 2007, the Company diversified into the power sector with the manufacturing of low tension and high tension power cables and setting up a 1.25 MW wind power generation plant. In order to reflect the diversity, the name of the Company was again changed to “Surana Telecom and Power Limited” on 11 th October, 2007.

In the year 2008, the Company has ventured into Solar Photovoltaics (SPV) Sector by establishing a SPV Modules manufacturing Plant (a 100% EOU) at Cherlapally, Hyderabad with an installed capacity of 12MW. The Company has also made a strategic investment in solar energy sector by formation of a Joint Venture Company M/s. Surana Ventures Limited jointly with M/s Bhagyanagar India Ltd.

The Company is currently listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange of India (BSE). The Company has been accredited ISO 9001-2000 certificate for its manufacturing facilities.