RRB Energy to set up Rs 130-cr facility for higher capacity wind mills

Wind turbine maker RRB Energy on Wednesday said it will invest Rs 130 crore to set up a new facility to manufacture high capacity wind mills.

"RRB Energy will be establishing a new facility by infusing over Rs 130 crore for the purpose of engagement with higher capacity turbines. The new plant will boost state-of-the-art facilities and will produce higher megawatt electric power generation machinery," a company statement said.

The company is taking strategic steps in order to ramp up business in India and become a debt-free organisation in the near future, it said adding there are plans to introduce a new business model, sign up newer partnerships and products that will suit the current regulatory and business requirements.

The company will continue to focus on reducing its liabilities and invest in introducing newer products and services in the wind power generation sector in India, it said.

Talking about the company's expansion and growth plans in India, Rakesh Bakshi, chairman and managing director, RRB Energy, said in the statement, "With continuous focus on the developments in the renewable energy sector, we plan to relocate and set up a new multi-facility plant in India. We are reinventing our strategy to gather pace in the coming year. Looking at the future trends and demands for this sector, we have also planned to diversify into new areas like Solar EPC Projects, Electric Mobility, Battery Storage Solutions etc."