- Investment of Rs. 33 Cr
- Power Purchase agreement at the rate of Rs. 4.35 per unit for 25 years
- Additional Power production of 5.25MW
Nakoda Limited (BSE code: 521030), one of India’s largest players in the fully drawn yarn segment, has commenced its Wind Power project in Ratlam, MP.
According to the plans stated by Nakoda Limited last September, It has confirmed acquisition of Wind Mills from Global Wind Power Ltd. (GWPL), through a company floated by Reliance ADAG Group. The wind turbines are developed by GWPL with state of art technology in collaboration with Norwin Denmark.
The company made announcement of the commencement of the plant which is set up at Jethana, District – Ratlam, MP having 7 turbines with a capacity of 750 KW each aggregating to an additional capacity of 5.25 MW. The company’s post expansion capacity will be 12MW.
The entire project cost as informed earlier remains Rs. 32.92 crore is funded entirely from internal resources.
Nakoda Limited has entered into a power purchase agreement with Madhya Pradesh Electricity Board to supply around 112 lakh units per year at the rate of Rs. 4.35 per unit for 25 years.
Speaking about the new project in MP, Mr. B G Jain, Chairman & Managing Director of Nakoda Limited said, “The investment is expected to have additional revenue of Rs. 5.09cr & a profit of Rs. 2.8cr on an approximation basis. The entire project is CDM compliant & is expected to generate carbon credits worth Rs 5.25 cr. in next 10 years.”
About Nakoda Limited:
Nakoda, an ISO 9001 - 2000 company, is one of the prominent players in the Polyester Filament Yarn Industry in the country. From a modest capacity of 354 MTPA in 1986, Nakoda grew to 50,000 MTPA capacity company by 2008. With the completion of its ongoing backward integration/ expansion / forward integration project with a capital outlay of Rs 333 Cr, Nakoda will achieve a capacity of 1,40,000 MTPA . Nakoda is contemplating further investments of over Rs 1,500 Cr to raise the capacity to a level of 5,00,000 MTPA in India and for future overseas acquisitions.
Nakoda ranks amongst top 500 in Indian companies according to the research carries out by Business India as well as Financial Express.