MMTC, the country?s largest foreign trading company, is planning to take a major leap in the non-conventional energy sector, following its successful pilot project in Karnataka.
As a part of its diversification strategy, the company will invest around R240 crore in the next two years to set up new wind mill units across the country. The company?s new investment plan comes in the wake of the success of its 15 mw windmill plant in Karnataka.
According to P Ramachandran, general manager of MMTC, the pilot project comprising 25 windmill units was set up in Gajendragad in Gadag district with an investment of Rs 68.75 crore in 2007. Within four years, the company has achieved breakeven there, generating around 102 million units of power, which was sold at Rs 3.40 per unit to the state government.
Encouraged by this, MMTC has decided to now set up around 40 more windmill units in Karnataka, Gujarat and Maharastra with the new proposed investment. The fresh investment will expand the company?s wind energy capacity to 65 mw from the current 15 mw, he said.
The company recorded an all time high turnover of Rs 68,687 crore in 2010-11, up from Rs 45,124 crore in the previous fiscal.
(Travel for this story has been sponsored by MMTC)