Powerica Limited, established in 1984 and rebranded in 1989, is a diversified power solutions company with two key business verticals: diesel generator sets and wind power. It is one of the three Original Equipment Manufacturers (OEMs) for Cummins India Limited and provides end-to-end power solutions for diesel generators, including manufacturing, supply, installation, testing, commissioning, after-sales service, and maintenance. The company also offers medium-speed large generator sets (MSLG) for base-load power operations running on diesel and various heavy fuel grades. Additionally, Powerica manufactures auxiliary systems like acoustic enclosures, fuel systems, and control units, operating out of three manufacturing facilities in Bengaluru, Khopoli, and Silvassa.
In its wind power business, Powerica has positioned itself as both an Independent Power Producer (IPP) and an Engineering, Procurement, and Construction (EPC) provider for other IPPs. The company launched its wind power initiatives in 2008 and now operates 11 wind farms with a combined generation capacity of 203.35 MW in Gujarat and Tamil Nadu. Notably, Powerica has partnered with industry leader Vestas for the development and installation of wind turbine generators (WTGs). Its EPC projects began in 2012 for its IPP ventures and expanded to external IPPs in 2014, reaching a total generation capacity of 142.6 MW.
Powerica has also established strategic collaborations to fuel growth, including a joint venture with Vestas in 2016 for 750 MW of wind power projects. In 2018, the company partnered with Vestas for a 150 MW WTG project, completing the first phase of 50.6 MW in 2019. To further strengthen its position and capitalize on growth opportunities, Powerica plans to launch an initial public offering (IPO) through the sale of 7,618,427 equity shares. This underscores its commitment to expanding its footprint in India's power and renewable energy sector.
