FITZROY ENERGY & MINERALS LIMITED has diversified into the Energy & Mineral sector in India. It has tied up with established companies like ENMAS for development of new energy infrastructure for the Domestic as well as the Export market.
The Consortium has been formed to explore emerging opportunities in the thermal power sector through both greenfield and inorganic expansion. The power sector is poised to grow significantly in India and the private sector contribution to meeting the nation's power needs is expected to rise substantially. The consortium is well-positioned to explore the potential of the sector with its captive power plant in Nagaland and its exposure to mining. The management is also looking for new opportunities in the other North Eastern States and neighbouring countries.
Renewable energy, especially solar energy, has been identified as a sunrise business opportunity by the Consortium. The solar team has evaluated the complete value chain of solar power, shortlisting the areas that match the consortium's interests. The team is currently focussed on the development of utility-scale solar power plants to position itself as an independent power producer (IPP) based on photovoltaic (PV) technology. It is also currently participating in the development of a 2-MW solar PV plant in North East India.
Fitzroy commissioned the first unit of its 2. 60 MW thermal power and solar power plant in the district of Nagaland in 2020, with the government of the stat e. Currently the company is looking to set up this plant by the end of 2022, and looking to convert it into a biomass plant in the years to come after.