Shalivahana Group Overview, a 30 years old organization having its base in Hyderabad, Andhra Pradesh is one of India’s leading business houses active in the following fields:

‘Shalivahana Green Energy Limited’ (“SGEL”) is a South India based company involved in renewable energy generation using Biomass as the primary fuel. SGEL is among the pioneers in biomass based power generation projects in the country. The group also is executing projects in hydro and wind power generation and aims to be a 336.4 MW company by 2015. The company is a part of ‘Shalivahana Group’ promoted by Mr. M. Komaraiah having interest in diverse businesses e.g. renewable energy, construction and education. However, the main focus of the promoter is now narrowed to renewable energy business. SGEL is the flagship company of the group and owns and operates renewable energy assets including through its subsidiaries and joint ventures. SGEL is one of the largest biomass generation companies with the operational capacity of 50.4 MW (6 plants) in India and has demonstrated track record of managing multiple projects successfully.

The first biomass plant of the company with a capacity of 7.5 MW became operational in December 2002. The primary biomass fuels used are rice husk, shells, straws, crop stalks, bagasse and woody biomass for combustion across various biomass projects. SGEL plans to have an operational capacity of 336.4 MW by 2015 through a mix of biomass, wind and hydro power plants. By end March 2012 and 2013.

Currently, Axis Infrastructure Fund 1 (Axis), IL&FS Renewable Energy Limited (IREL) and International Finance Corporation (IFC) are the private equity investors in Shalivahana Green Energy Limited. Axis Infrastructure Fund 1 is a trust created under the Indian Trusts Act, 1882 acting through its investment manager, Axis Private Equity Limited, has made an initial investment in the Company in the year 2009.

IL&FS Renewable Energy Ltd is the other private equity investor in the Company. It has been promoted by Infrastructure Leasing & Financial Services Limited (IL&FS), a leading infrastructure development and financial services company. The IL&FS group over the years has focused on the commercialization and development of infrastructure projects in the country. IREL is engaged in developing, implementing and operating power projects in the renewable energy space. The renewable energy projects developed by IREL are planned to be diverse in geographic location, energy source and off-take, and each project is planned to be strategically located near an available energy source. IREL envisages development of greenfield projects as well as acquisition of operational renewable assets. IREL is currently associated with development of projects in areas of bagasse, biomass based energy, wind energy, waste to energy, solar energy and hydro energy across the country. IREL has in house expertise in various facets of project development such as legal, regulatory, environmental and financial etc, essential to ensure optimal structuring of the project in addition to a strong team of technical personnel for project implementation.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, IFC helped its clients create jobs, strengthen environmental performance, and contributed to their local communities. As a member of the World Bank Group and the largest global development institution focused on the private sector, IFC is constantly providing finance to help the companies grow quickly and substantially with advice that helps them innovate, raise standards, mitigate risk, and share knowledge across industries and regions. IFC is prioritizing investments in renewable energy projects around the world and as India faces power shortages that leave more than 400 million people without access to electricity and to address the climate change IFC intends to support only highly efficient coal-fired projects. It has invested in Shalivahana Green Energy Limited (SGEL), a clean energy firm having assets across biomass, hydro and wind energy generation.