Nakoda to open wind power project in MP

Nakoda Limited, prominent player in the polyester filament yarn industry, is set to commence its wind power project in MP.

It will invest a sum of Rs32.92 crore, to be funded by debt of Rs23 crore and balance from internal resources.

Nakoda Limited proposes to acquire wind mills from Global Wind Power Ltd (GWPL), a company floated by Reliance ADAG Group that develops wind turbines in collaboration with Norwin Denmark.

The wind power plant, which is to be set up at Jethana, Ratlam in MP will have seven turbines with a capacity of 750 KW each aggregating to 5.25 MW.

Speaking about the new project in MP, Babubhai Jain, chairman and managing director of Nakoda Limited, said, ''We are happy to commence our second wind power project after the one in Tamil Nadu last year. With the project in MP, we enter into new territories and hope to mark our presence across the country.''

The company will enter into a power purchase agreement with Madhya Pradesh electricity board to supply around 112 lakh units per year at the rate of Rs4.35 per unit for 13 years.

After the commissioning of the new machines, Nakoda's wind power capacity will increase from existing 6.75 MW to 12 MW.