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July 5, 2011Renewable Energy is a sunshine industry in India right now and a number of non traditional players are getting into the clean energy industry right now.Companies with surplus cash or lack of growth opportunities are turning to solar energy generation to fuel growth.The JNNSM first phase saw a large number of companies bidding and some unknown players winning the auction.While a large number of these solar companies will never their projects see the light of the day (pun intended),some will survive and thrive.More companies are getting into the solar power busness attracted by the long term potential of solar energy in the country.Kanoria Chemicals which recently sold off a large chunk of its chemical business is sitting on a huge pile of cash.The company has decided to get into renewable energy generation by setting up a 2-3 MW solar plant.Note Kanoria Chemicals has little to any relation between its core operations and solar energy.
Kanoria Chemicals eyes solar foray
Kanoria Chemicals and Industries Ltd plans to use the proceeds from the divestment of its chloro-chemicals division for expansion of the speciality and fine-chemicals business. Also planned is an entry into solar energy, preferably in Rajasthan.Kolkata-based Kanoria sold its flagship chloro-chemicals business to Aditya Birla Chemicals (India) Ltd for Rs 830 crore in April
Oswal Woolen Mills is a Textile company which has large plans for the green energy industry.The company is already looking to implement a 25 MW solar power plant and now is stretching its wings into the wind power plants in India as well.Note Wind Power in India traditionally has a lot of companies from the industrial sector as it has attractive depreciation subsidies given by the government.So you can see a large number of small companies owning wind turbines in India to reduce their tax outgo even if their wind plants don’t work too efficienty.
Wind power takes Oswal Mills to Tamil Nadu, Karnataka
Soon after its foray into solar power production, Oswal Woollen Mills Limited is all set to start a project involving wind power. Known for its rich share in country’s hosiery industry, the business house would set up the Rs 60-crore venture in Tamil Nadu and Karnataka. After being selected as the only company from Punjab, Oswal Mills signed an MoU with Centre for a 25mw solar power project worth Rs 350 crore. Talking about the project, Jain said the 5mw venture would go functional in December, followed by another 5mw in June 2012 and the remaining 15mw in 2013.
Wind Power sees entry of Metal Traders
Wind Power in India has been growing at a rapid pace making India the 5th largest global market for wind energy despite limited resources of wind energy.India Wind Power Plants are all set to grow with the entry of new wind power developers like Metal Traders MMTC and Ushudev International.Note MMTC is the state owned metal trading giant while Ushdev is the 3rd largest private sector trader in metals after Adani and Surana Groups.New Wind Farm Developers like Caparo,Greenko,Genting,Techno Electric have already put aggressive wind expansion plans in place.Now MMTC and Ushdev have joined the wind party as the economics of wind energy look enticing given the massive shortage of energy and the incentives given the government like GBI,Tax Breaks etc.
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M i R a e T r a d i n g
ShinDo 10th Apt. #103-1401 YongHyeon-Dong 290-1 UiJeongBu-Si,
GyeongGi-Do, Republic of Korea C/P : +82 10 5237 5485
E-Mail : oceanmanager@hanmail.net / seamanager@yahoo.co.kr
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Thanks and best regards,
Q. KIM
[…] industry right now.Companies with surplus cash or lack of growth opportunities are turning to Solar energy generation to fuel growth.The JNNSM first phase saw a large number of companies bidding and […]