BL reported that Lanco Group has firmed up its plans to foray into wind energy with an initial investment of nearly INR 500 crore. It is planning to set up a wind turbine manufacturing unit in Puducherry and has also set its eyes to establish wind farms in India, the US and Europe.

Mr L Madhusudhana Rao chairman of Lanco Group said that the technology aspects would be worked out in technical collaboration from German companies. The group is targeting a commercial launch of wind energy by September 2009. He added that "Our target is to establish a total of 1,000 MW installed capacity.

The group is also exploring options in solar and nuclear energy fields. It has a presence in the hydro power sector, in which it is implementing 5 projects with capacity of 742 MW, two of them have been registered as clean development mechanism projects with the Geneva based United Nations Framework Convention on Climate Change.

These two projects will generate an additional 35,000 certified emission reductions an annum, taking the total Group CER tally to 110,000. The two projects namely 5 MW Baner III and 5 MW Iku II on the Beas River are the first hydro projects of Lanco to be registered as CDM projects and are expected to be commissioned this year.

It has a vision of establishing 15,000 MW of operating assets in power, constructing 100 million square feet of real estate, emerging among the top 5 companies in infrastructure and top 10 among construction companies.

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