In what may signal the entry of another IT company in the renewable energy market, Delhi-based Intex Technologies plans to set up a string of wind energy units in the South.
The company has set up the first two units in Tenkasi in Tamil Nadu in March at a cost of Rs 6 crore and plans to install three more in the current fiscal investing another Rs 10-12 crore, Intex Director (Operations) Suresh Gupta told Deccan Herald.
Pact with TN
It plans to install more wind power units till 2009-10. The company has signed an agreement with Tamil Nadu state electricity board which will use the electricity generated by the first two units for the next 20 years. The two mills are expected to generate 28 lakh units of electricity every year which will be supplied to the TNSEB.
After IT major Moser Baer’s foray into solar photovoltaic business, this is probably the second example of a hardware company investing in green energy. But unlike Moser Baer, the Rs 260 crore Intex does not plan to start a separate company at the moment.
“Initially it will be a separate vertical of the company,” Mr Gupta said, adding the renewable sector is lucrative because of tax concessions extended by the government for the next ten years.
Vestas wind turbines
The two mills have been installed in an alliance with Vestas RRB, Indian arm of Vestas, world’s largest manufacturer of wind turbines.
For next three units, Vestas is in the process of finding out the location which could either be in Tamil Nadu or Karnataka, he said.
