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HK firm to build $125 mn wind farm in Gujarat

Bloomberg  |  Mumbai 

CLP Holdings, Hong Kong's biggest power utility, will build a $125 million wind farm in India in association with Enercon (India) to tap rising energy demand in India.
The will build a wind farm in Gujarat with a capacity of 100.8 mw, CLP said in an e- mailed statement today. Construction of the plant will start in November with completion scheduled for January 2009, it said.
CLP, a 106-year-old business controlled by the family of Chairman Michael Kadoorie, is expanding abroad to counter slowing earnings growth in Hong Kong. The company is investing in renewable energy projects, focusing on wind, hydel and biomass, in India, China and Australia. "The project reinforces CLP's commitment to growing our position as a leading Indian power producer through CLP India,'' Chief Executive Office Andrew Brandler said in the statement.
Roaring 40s Renewable Energy Pty, CLP's joint venture with Hydro Tasmania, in May signed an agreement with Enercon, a wind turbine manufacturer, to build another wind farm project in Khandke (Maharashtra). The 50.4 mw plant costing $80 million is scheduled to start operating in December.
The project in Gujarat would increase CLP's renewable energy portfolio to about 4.4 per cent of its total generating capacity, the company said. CLP wants to expand its share to 5 per cent by 2010.

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First Published: Tue, August 07 2007. 00:00 IST
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