RattanIndia Power
RattanIndia Power Limited is an India-listed independent power producer that operates two 1,350 MW coal-based thermal power plants in Maharashtra, selling electricity under long-term PPAs to state-owned distribution utilities, principally MSEDCL.
- Company typePublic
- Founded2009
- HeadquartersNew Delhi, India
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What RattanIndia Power does
RattanIndia Power Limited (BSE: 533122) is an India-listed independent power producer that generates and sells baseload electricity from two coal-based thermal power plants — the 1,350 MW Amravati plant and the 1,350 MW Nashik plant — both located in Maharashtra. Each plant comprises five 270 MW units built on BHEL supercritical equipment, with combined installed capacity of 2,700 MW and an annual generation envelope of approximately 23.6 billion units. The company was originally incorporated in 2009 as Indiabulls Power Limited, was taken over by Rajiv Rattan in 2014 through a Rs 360 crore preferential allotment, and renamed RattanIndia Power Limited in October 2014.
The business operates a pure B2B/B2G model: electricity is sold exclusively under long-term Power Purchase Agreements (PPAs) to state-owned distribution utilities, with MSEDCL being the anchor counterparty under a 25-year PPA covering 1,200 MW of Amravati capacity. Tariffs are regulated by the Maharashtra Electricity Regulatory Commission under a multi-year framework combining capacity charges (fixed cost recovery) and energy charges (variable cost pass-through tied to coal). The company owns dedicated supporting infrastructure — railway sidings for coal movement, 400 kV transmission corridors for power evacuation, and dedicated water pipelines — and procures fuel under assured linkages from Coal India Limited subsidiaries. Cumulative capital invested in the platform totals Rs. 18,615 crores (approximately US$2.5 billion), and institutional investors include Goldman Sachs and Varde Partners.
RattanIndia Power generates revenue through two streams: regulated power sale to DISCOMs (recurring, PPA-backed) and asset divestitures. In February 2026, the company divested its Sinnar Thermal Power Limited subsidiary — a 1,350 MW coal plant near Nashik — to NTPC Limited and Maharashtra State Power Generation Co. Ltd., reducing the company's operational thermal capacity. For full-year FY2025-26, the company reported sales of Rs 2,991.36 crore (down 8.91% YoY) and net profit of Rs 52.44 crore (down 76.37% YoY), reflecting demand-side softness with state DISCOMs. Q4 FY26 sales declined 15.87% to Rs 787.69 crore, indicating tariff and offtake sensitivity. Operational performance at Amravati remains strong, with 86% plant load factor and 100% availability.
RattanIndia Power firmographics
Firmographics- Name
- RattanIndia Power
- Legal name
- RattanIndia Power Limited
- Website
- https://rattanindiapower.com
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- RattanIndia Power Limited is an India-listed independent power producer that operates two 1,350 MW coal-based thermal power plants in Maharashtra, selling electricity under long-term PPAs to state-owned distribution utilities, principally MSEDCL.
- Ownership category
- akta.pro rank
RattanIndia Power industry classification
Industry- Product category
- Thermal Power Generation
- NAICS
- Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Supercritical & Ultra-Supercritical Coal Power Plants (EUACAAAB)
- akta.pro secondary industry
- Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB)
Keywords
Where RattanIndia Power is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
RattanIndia Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D
Revenue model
- Power Generation and Sale: RattanIndia Power generates electricity through its coal-based thermal power plants and sells power under long-term Power Purchase Agreements (PPAs) with state electricity distribution companies. The primary customer is Maharashtra State Electricity Distribution Company Limited (MSEDCL) with a 25-year PPA for 1,200 MW from Amravati plant. Revenue is generated through capacity charges and energy charges based on power delivered.
- Asset Divestiture: The company divested its Sinnar Thermal Power Limited subsidiary to NTPC Limited and Maharashtra State Power Generation Co. Ltd. in February 2026, generating capital from asset sales.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Bulk power supply to DISCOMs under regulated tariff framework |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
RattanIndia Power product offering
Product offeringCore offering
RattanIndia Power generates and supplies bulk electricity through two coal-based supercritical thermal power plants—the 1,350 MW Amravati Thermal Power Plant and the 1,350 MW Nashik Thermal Power Plant in Maharashtra, India—selling power under long-term Power Purchase Agreements (PPAs), primarily a 25-year 1,200 MW PPA with Maharashtra State Electricity Distribution Company Limited (MSEDCL). Total installed capacity is 2,700 MW across 5x270 MW BHEL units per plant, with annual production capacity of ~23.6 billion units of electricity.
Product overview
RattanIndia Power Limited operates as one of India's largest private power generation companies with a portfolio of two major coal-based thermal power plants: the Amravati Thermal Power Plant (1,350 MW, 5x270 MW BHEL units) and the Nashik Thermal Power Plant (1,350 MW, 5x270 MW BHEL units). The company also manages subsidiary operations including Sinnar Thermal Power Limited and Poena Power Development Limited. With a combined installed capacity of 2,700 MW spread over 2,400 acres in Maharashtra and investments of Rs. 18,615 crores (US $2.5 Billion), the company supplies electricity under long-term Power Purchase Agreements, primarily with Maharashtra State Electricity Distribution Company Limited (MSEDCL).
Differentiator
Problem solved
Functional benefit
Products and services
- Amravati Thermal Power Plant 1,350 MW coal-based supercritical thermal power plant at Nandgaonpeth, 13 km from Amravati city, Maharashtra, comprising 5x270 MW BHEL units across 1,350 acres. Operating at 86% plant load factor with 100% availability; supplies power under a 25-year PPA with MSEDCL (1,200 MW).
- Nashik Thermal Power Plant 1,350 MW coal-based supercritical thermal power plant near Sinnar, 40 km from Nashik city, Maharashtra, comprising 5x270 MW BHEL units across 1,040 acres. Power evacuated through 57 km of 400 kV D/C Quad Moose transmission line to Babhaleshwar; supported by coal linkages from Coal India Limited.
Companies that use RattanIndia Power
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
RattanIndia Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
RattanIndia Power partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Coal India Limited (CIL)coreCoal India Limited and its subsidiaries (including South Coalfields Limited - SECL) provide assured coal supply to RattanIndia Power's thermal plants. Coal linkages from CIL subsidiaries ensure fuel security for power generation operations.
- Bharat Heavy Electricals Limited (BHEL)coreBHEL supplied the core power generation equipment for both Amravati and Nashik plants - 270 MW x 5 units at each location. BHEL is India's premier heavy electrical equipment manufacturer providing the turbine and generator sets for thermal power plants.
Scale indicators10 records
Recent moves7 records
Expansion highlights4 records
RattanIndia Power competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
RattanIndia Power social profiles
Digital presenceRattanIndia Power compliance and trust
Trust signalCompliance2 records
RattanIndia Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
RattanIndia Power leadership team
Management profileNumber of profiles
Profiles7 records
RattanIndia Power subsidiaries and ownership
Company hierarchySubsidiaries3 records
RattanIndia Power funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RattanIndia Power M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RattanIndia Power
What does RattanIndia Power do?
RattanIndia Power generates and supplies bulk electricity through two coal-based supercritical thermal power plants—the 1,350 MW Amravati Thermal Power Plant and the 1,350 MW Nashik Thermal Power Plant in Maharashtra, India—selling power under long-term Power Purchase Agreements (PPAs), primarily a 25-year 1,200 MW PPA with Maharashtra State Electricity Distribution Company Limited (MSEDCL). Total installed capacity is 2,700 MW across 5x270 MW BHEL units per plant, with annual production capacity of ~23.6 billion units of electricity.
Is RattanIndia Power a public or private company?
RattanIndia Power is a public company. It is classified as public and is currently operating.
When was RattanIndia Power founded?
RattanIndia Power was founded in 2009. It employs 101 to 250 people.
Where is RattanIndia Power based?
RattanIndia Power is headquartered in New Delhi, India, in the Asia region.
How does RattanIndia Power make money?
Two revenue lines are on record. Power Generation and Sale is the primary driver. The others are asset Divestiture.
Does RattanIndia Power have an API?
No public API is recorded for RattanIndia Power.
What industry is RattanIndia Power in?
RattanIndia Power's product category is Thermal Power Generation. Its primary akta.pro industry code is EUACAAAB, Supercritical & Ultra-Supercritical Coal Power Plants, with a secondary code of EUAGADAB, Utility-Scale Generator PPAs (Project Offtake). Its NAICS code is 221112 and its SIC code is 4911.