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Nakoda Textile forays into wind power

BS Reporter  |  Mumbai/ Ahmedabad 

Nakoda Textile Industries Ltd. (NTIL), one of India’s largest players in the fully drawn yarn segment, is all set to venture in wind power sector.

As part of its foray into wind energy, the company is investing Rs. 41 crores for the wind power plant, which will be funded by internal accruals and term loans. The greenfield project will have 9 turbines having aggregate capacity of 6.75 MW. The wind power plant is coming up at Tirunelveli in Tamil Nadu.

The company has acquired wind turbines from Global Wind Power Ltd.,(GWPL) a company promoted by Reliance ADAG Group. The wind turbines are being manufactured by with state of art technology in collaboration with Norwin, Denmark.

shall be supplying the entire power generated at the plant to Tamil Nadu Electricity Board. This venture, apart from adding to the top and bottom line of the company, would also result in significant tax savings. The company would be eligible for carbon credits also.

“This is not only a valuable project for Nakoda Textile but also our entry in clean power arena. It is a milestone for us, which we are proud to achieve”, said Babubhai Jain, chairman and managing director, Nakoda Textile.

First Published: Thu, September 03 2009. 00:26 IST