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CLP power India to invest Rs 18 billion in wind energy

According to reports, with a decline in European markets, many renewable energy producers are looking towards India as an investment hub. CLP Power India, a wholly-owned subsidiary of Hong Kong-based CLP Holdings Ltd, plans to invest around Rs 1,800 crore in India to add over 200 MW capacity in wind energy in the fiscal year 2012-13.

“The company has delivered over 200 MW power last fiscal year, through its wind power projects existing in six states, Maharashtra, Gujarat, Rajasthan, Tamil Nadu, Karnataka and Andhra Pradesh,” said Mahesh Makhija, director, business development, CLP India.  “This year we plan to invest over Rs 1,500-1,800 crore to generate another 200 MW.”

Capacity enhancement would be through new projects and the investment would be from debt and equity, he added.  However, the company’s total investment in India is over Rs 12,500 crore.

According to the ministry of new and renewables energy, India has wind potential of 65,000 MW. Today, with 12,809 MW of installed capacity, country is one of the leading nations for wind power.

“More than two-thirds of India’s power from renewable energy comes from wind farms peppered across the country’s southern and western states,” said Makhija.

The company is also evaluating options to set up a solar power plant.

“It is in the preliminary stage and we are monitoring the solar energy resources in Rajasthan,” Makhija said.

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