Message from the Chairman cum Managing Director
POM Hydro Energy Limited
As a company, Puri Oil Mills Limited (the parent company of POM Hydro Energy Limited) has always adopted contemporary best practices, innovation and technology. It has always moved with the times. It was, in fact, this very outlook that enabled the company to take the right step of diversifying into the Hydropower Sector, anticipating the global energy demand. The foray into hydropower generation proved to be both lucrative as well as a robust business decision.
The experience of commissioning three micro hydropower projects, gaining competence in both run-of-the-river and irrigation canals in the process, was invaluable. We realized that we had repaid most of our debt. Our bottom lines grew and so did our confidence and we decided to move away from micro to small projects and were allotted a 14MW project at Uhl in the Mandi district of Himachal Pradesh.
With fossil fuel resources getting depleted very fast, we believe that among the various sources of renewable energy, hydropower is the way to go in the future; it is environmentally benign and safe. In this regard, small hydropower projects are probably the most efficient as their Capacity Utilisation Factor (CUF) is significantly higher than that offered by other sources of power. As a result, its effective cost per unit is probably the lowest in the long term.
Moreover, hydropower projects in rural areas generate job opportunities for both skilled and semi-skilled workers and also creates better infrastructure, thereby fostering prosperity among the people of that region.
With this key diversification move, hydropower has become our current passion and we have a very competent and confident professional team backing us up to ensure that our projects are executed efficiently and on time.
In future I see POM Hydro Energy Limited moving from small to medium and large hydropower projects, even acquiring already commissioned projects to save valuable execution time.