Date:29/11/2005 URL: http://www.thehindubusinessline.com/2005/11/29/stories/2005112902460200.htm

Back Vestas RRB aims Rs 1,000-cr turnover for current fiscal

Our Bureau

New Delhi , Nov. 28

VESTAS RRB India Ltd, a wind energy producer, is targeting a turnover of Rs 1,000 crore for the current fiscal compared to the Rs 550 crore clocked the last fiscal.

Announcing an investment of Rs 100 crore in the country in the next two years for setting up a manufacturing plant and increasing capacity, Mr Rakesh Bakshi, Managing Director, Vestas RRB, said the company has been achieving 100 per cent growth for the last three years and expected to touch Rs 4,000-crore turnover by 2007-08.

The company has about 25 per cent marketshare in the wind energy sector, Mr Bakshi said. "We aim to become the leader in wind energy sector by 2007-08," he said.

The investment of Rs 100 crore would go towards setting up a manufacturing plant for the production of windmill blades and augmenting the existing facility for production of higher capacity (1 MW) wind energy generator (WEG).

At present, a total of 1,300 WEGs of the company are installed in Gujarat, Maharashtra, Madhya Pradesh, Orissa, Tamil Nadu, Kerala and Karnataka.

Vestas RRB India was established in 1987 with technical and financial collaboration with Vestas Wind Systems A/S, a Danish company. The foreign partner has 49 per cent stake in the company.