Nakoda to set up wind power plant in Madhya Pradesh

Mumbai (IANS)- Yarn manufacturer Nakoda Limited will invest Rs.33 crore on a 5.25 MW wind power plant in Madhya Pradesh, the company announced Thursday.

The plant will be set in Jethana village of Ratlam district. It will have seven turbines of 750 KW each, aggregating to a total power production of 5.25 MW.

The windmills for the project will be acquired from Global Wind Power Ltd, a company of the Reliance ADAG Group, and have been developed in collaboration with the Norwin Denmark, Nakoda's chairman-cum-managing director Babubhai Jain said.

The plant will be operational by March 2011 and the company plans to enter into a power purchase agreement with the Madhya Pradesh Electricity Board to supply around 112 lakh units per annum at Rs.4.35 per unit for 13 years, Jain said.

After the new plant is commissioned, Nakoda's wind power capacity would nearly double to 12 MW from the existing 6.75 MW.

"This investment will have a positive impact on our balance sheet. With the commencement of our second wind power plant after the first in Tamil Nadu, we hope to mark our presence across the country," Jain said.

Nakoda is a prominent player in the country's polyester filament yarn industry.