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| NEPC to set up SEZ for non-conventional energy |
| T E Narasimhan / Chennai Sep 28, 2009, 00:44 IST |
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Natural Energy Processing Company (NEPC) India Ltd is planning to set up a special economic zone (SEZ) at Palladam near Coimbatore with an investment of around Rs 2,000 crore. The company is also talking to private equity investors to fund the project.
Speaking to Business Standard, NEPC India Chairman Ravi Prakash Khemka said the company is planning to set up a solar and photo voltaic plant in the SEZ, for which construction is expected commence from January 2009. Total investment would be around Rs 2,000 crore.
All approvals from the state and central governments are being obtained.
The proposed investment will be funded through debt and equity. “We are talking to few private equity investors to fund the project,” said Khemka.
While NEPC’s land requirement would be only 25 acres for setting up the facility, the remaining area would be given to other non-convention energy players, added Khemka.
Once the project takes shape, the company is expecting Rs 4,000-5,000 crore from Indian and foreign investors and would provide employment to 5,000-6,000 people, both directly and indirectly.
He added that almost 360 days of solar energy is available in the country, considering which the company has embarked into manufacturing Solar energy compatible Solar Dual Power System UPS.
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