Nakoda Limited (BSE code: 521030) commences 5.25 MW Wind Power generation at cost of Rs. 330 million in Ratlam, Madhya Pradesh, India.
According to the plans stated by Nakoda Limited last September, It has confirmed acquisition of Wind Mills from Global Wind Power Ltd. (GWPL), through a company floated by Reliance ADAG Group. The wind turbines are developed by GWPL with state of art technology in collaboration with Norwin Denmark.
The company made announcement of the commencement of the plant which is set up at Jethana, District – Ratlam, MP having 7 turbines with a capacity of 750 KW each aggregating to an additional capacity of 5.25 MW. The company’s post expansion capacity will be 12MW.
The entire project cost as informed earlier remains Rs. 32.92 crore is funded entirely from internal resources.
Nakoda Limited has entered into a power purchase agreement with Madhya Pradesh Electricity Board to supply around 112 lakh units per year at the rate of Rs. 4.35 per unit for 25 years.
Speaking about the new project in MP, Mr. B G Jain, Chairman & Managing Director of Nakoda Limited said, “The investment is expected to have additional revenue of Rs. 5.09cr & a profit of Rs. 2.8cr on an approximation basis. The entire project is CDM compliant & is expected to generate carbon credits worth Rs 5.25 cr. in next 10 years.”