Shriram EPC arm to set up wind farm in Czech Republic
Monday, 07 Sep 2009
It is reported that Orient Green Power Ltd a subsidiary of Shriram EPC Ltd plans to set up an 18 MW wind farm in the Czech Republic.
The report quoted Mr T Shivaraman MD of Shriram EPC as saying that Shriram EPC has a 40% stake has a portfolio of 100 MW of wind power in the country. The rest of the equity is held by two private equity funds, Bessemer and Olympus.
The company would install 12 machines of 1.5 MW capacity each. The most valuable part of the machines the turbines will be produced at Gummidipoondi, near Chennai, by Leitner Shriram, a joint venture of Shriram EPC and the Leitner group of Italy.
He said that that OGPL intends to double the wind power capacity in India over the next one year, only through acquisitions. For both its wind farm in Czech Republic and its expansion in India, OGPL would need funds, although not immediately.
Mr Shivaraman said that entry into the Czech Republic would be the first step into the international arena adding that after the first phase of development in the Czech Republic was over, OGPL would look to expand its footprint in East Europe.
Mr Shivaraman said that the renewable policies in East Europe, just as in West Europe, were clear and favorable. The step into Czech is at an advanced stage.
