Muthoot Pappachan Group aims to double wind energy generation capacity by end 2012

Rs 125 cr invested so far, capacity reaches 25 MW in 2010

In operation since 1993, Muthoot Pappachan Group’s pioneering wind farms in Tirunelveli and Kanyakumari Districts of Tamil Nadu are set to expand capacity.

Total installed capacity of Muthoot Pappachan Group in wind power is 25 mega watts with a total Investment of Rs. 125 crores. 

According to India’s Ministry of New and Renewable Energy, 4,500 MW capacity addition is likely to take place in wind power. The country has installed over 12,000 MW wind power capacity. Wind energy is currently being generated in over 75 countries and is expected to meet 12% of global power demand by 2012 and 22% demand by 2030, according to a study conducted by the Global Wind Energy Council.

Muthoot Pappachan Group has added 4.50 MW of wind power in the current year with an investment of  Rs. 26 crores, generating a total of 450 lakh units per year under a Power Purchase Agreement (PPP) with the Tamil Nadu Electricity Board.

“The government has rightly recognized the energy security concerns of the nation and more importance is being placed on energy independence,” says Thomas John Muthoot, Chairman and Managing Director of Muthoot Pappachan Group. “We are currently studying expansion plans that are expected to double our total wind power generation capacity by end 2012,” he adds.

The Group is also considering other areas of clean energy generation in consultation with industry experts.

About Muthoot Pappachan Group
The beginnings of the Muthoot Pappachan Group (MPG) extend back to 1887. Founded as a trading company serving the retail requirements of plantation holdings in a small village in Kerala, MPG transformed into a Chit Fund company in 1939.

Today MPG’s turnover is Rupees 20,000 Crores (US$4.4 Billion) and, it has become one of the most admired and professionally managed corporate houses in India.

MPG has over 5,000 people serving more than one million loyal customers at offices and establishments across the Nation. 

Consumer, employed professional and trader finance are the Group’s core activities. The Muthoot Pappachan Group also has significant presence in other sectors of business, such as hospitality, infrastructure, automotive and renewable energy.

Group Website: www.muthoot.com