Sai Prasad Group forays into renewable energy business

City-based Sai Prasad Group engaged in food processing, real estate, media and entertainment and packaged drinking water business has now forayed in renewable energy business and would be manufacturing and assembling hybrid systems that would generate renewable energy. The company has invested Rs 20 crore for this.

The company has floated a new subsidiary Sai Prasad Energy Private Limited through which it will offer products and services pertaining to wind, solar and other renewable technologies. A new manufacturing plant has been set up at Bhosari, where all these integrated systems shall be manufactured.

Sai Prasad Group has picked up a stake in a Canada-based leading clean tech company, Cleanfield Energy Corporation, which will be the technology partner and shall offer its domain expertise for this venture. It will manufacture 100 systems per month at the Bhosari plant in Pune.

 

Tony Verrelli - president and CEO, Cleanfield Energy Corporation, Canada said, "Sai Prasad Energy Private Limited would be introducing vertical axis wind turbine technology for the first time in India. Some of the benefits of this technology require less space for installation and weigh less so it can easily be mounted on the roof top. Cost wise it is very competitive and is an off-grid pattern, where electricity is consumed at the place of generation itself. Cleanfield has provided technology for this venture."

The system has been designed to perform well in the typical urban conditions.

The company has plans to localise manufacturing of all components of the hybrid systems that it intends to manufacture and has already undertaken the vendor development program for the same.