October 12, 2008

Ghodawat to spend INR 400 crore for wind turbines unit

It is reported that Ghodawat Industries is planning to invest over INR 400 crore to set up manufacturing facilities for wind power turbines and core components, such as generators and gear boxes at Kolhapur in Maharashtra.

In the initial phase, slated to take off in 2009, Ghodawat Industries plans an investment of INR 100 crore to manufacture 1.65 MW wind turbines.

Mr Shrenik Ghodawat MD of Ghodawat Industries said that "In the next phase, we will make 100 MW wind turbines with an annual production of about 60 units initially. We aim to garner revenues of INR 500 crore from wind energy by 2010." He added that it also plans to tap markets in West Asia, Latin America and Africa.
Ghodawat has been involved in wind turbine tower manufacturing and supplies major players like Suzlon, Vestas and Enercon. Currently, it has a turnover of about INR 60 crore in the wind tower business. Recently, Ghodawat Industries had announced its foray into wind turbine manufacturing with exclusive technology licensing from US based wind energy major American Superconductor Corporation.