Wind electric generators manfuacturer RRB Energy Ltd is planning to raise around Rs 100-150 crore from private equity players to mainly fund develop 3 mega watt (MW) wind energy generator (WEG).
The company, which has recently launched 1.8 MW wind turbine product in the market, is currently focusing on developing 3MW WEG and plans are to complete the prototype in 2015-16, said Sarvesh Kumar, deputy managing director, RRB Energy Ltd. It require an investment of around Rs 125 crore to develop the 3MW WEG.
“We will be raising Rs 100-150 crore through private equity for developing the larger capacity product. A number of funds are in touch with us, but we have not zeroed in any,” said Kumar. However, the company is not looking at diluting stake for the time being, he added.
Its WEG manufacturing facility in Poonamallee, in Chennai, currently has an overall production capacity of about 200 MW, for all its product range of 225 kilowatt (KW), 500 KW, 600 KW and the newly launched 1.8 MW turbines.
With an additional investment of Rs 25-30 crore, the production capacity could be expanded to 600 MW a year. The company is planning to achieve an overall production capacity of around 600 MW during 2012-13, with 20 per cent of its turnover coming from exports. It has so far invested around Rs 225 crore in Poonamallee facility.
The company also has an R&D facility in Sriperumbudur, near Chennai, which developed and manufactured two turbines of 1.8 MW capacity, at a cost of Rs 100 crore.
RRB Energy, which posted a turnover of Rs 550 crore last fiscal, is expecting a growth to Rs 800 crore turnover for the fiscal year 2011-12. It has an order book of Rs 300 crore and has sold around 250 turbines of 500KW and 600KW, he said.