EnergyPro Assets Ltd (EPAL), parent company of combined heat and power specialist Edina, has been named as the fastest-growing Indian-owned company in the UK. Edina is supporting EPAL's domestic growth while building its exports to India.
Energy efficiency business EPAL achieved 715% revenue growth in 2019. Its turnover exceeded nearly 850 other major Indian-owned companies, according to Grant Thornton's 'India meets Britain Tracker 2020', which was developed with the Confederation of Indian Industry.
EPAL is a joint venture between the world’s largest public energy services company (India's Energy Efficiency Services Ltd) and EnergyPro Asset Management Ltd.
Its first and most significant UK investment was the 2018 acquisition of Edina, which is a specialist in the engineering, installation and after-sales support of decentralised gas-fired power plants and combined heat and power (CHP) and trigeneration systems.
With backing from EPAL, Edina opened a New Delhi office in 2019 and continues to make inroads into the Indian energy market. This has resulted in an export sales pipeline of 100MW of trigeneration projects, valued at £ 107 million.
Hugh Richmond, chief executive of Edina said: 'We have been at the forefront of developing the UK and Ireland's decentralised power infrastructure for more than 30 years. Now we are using our knowledge and technical innovation to help India accelerate its transformation towards a low carbon economy.”
'We are seeing strong demand for our high efficiency CHP technologies to meet India’s growing need for more sustainable and resilient power and cooling solutions. One of our initial contracts is a £1.11 million trigeneration project at major automotive manufacturer Mahindra & Mahindra. We are also supplying Innovations Infocom & IT Parks Pvt Ltd with a 2MWe trigeneration plant to support their data centre infrastructure.'
As a prominent player within the UK flexible balancing services market, which stabilises the power grid during periods of intermittent renewable supply, Edina is using its expertise to support India in its clean energy transition.
Edina is a multi-award winner for its fuel-efficient power plants and is the only power generation company to have twice won the prestigious Queen’s Award for Enterprise. The company employs more than 200 staff across its manufacturing, engineering, and office operations – located in Stockport (UK), Lisburn (Northern Ireland), Dublin, Cork (Ireland), Queensland (Australia) and New Delhi (India).
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