Wednesday, May 11, 2005

Wind power attracting Indian businesses

Indra had a post pointing to this article on how Indian corporates are taking to wind power to tide over the power crisis.

Investments in wind power are tax-free. Thus setting up wind power plants for captive power generation is a balance-sheet-friendly both in terms of investment as well as returns. Among the companies for which Suzlon (the leading equipment provider in India) has installed capacity are "Bajaj Auto, Tata Power, Aditya Birla group, Godrej, RE Agro, Ajanta group, RPG Enterprises and a host of textiles companies at Tirupur."

India is currently the fifth biggest wind energy producer in the world. However it must be noted that the top 3, Germany, Spain and the US are adding capacity at a (relatively) frenetic pace. And so is the UK, and probably soon will be China. It is good for India either way because growing wind power world wide will reduce competition in the global oil markets for India. Wishful thinking? :-)