Diversifying into renewable energy, state-run SJVN Ltd will set up wind power project having a capacity of 50 MW by next year entailing an investment of Rs 300 crore.
Hydroelectric power major SJVN has received the board approval for the plans to enter the wind energy sector.
"We are diversifying in renewable energy resources... We are going to set up 50 MW wind mill in 4-5 states where wind energy is available.
"... Tamil Nadu, Maharashtra, Andhra Pradesh, Kerala, Rajasthan and some portions of Madhya Pradesh and Gujarat have been shortlisted," SJVN Chairman and Managing Director R P Singh told PTI.
According to him, tenders for the proposed wind power project are in advanced stage of preparation and the wind mills are expected to be in place next year.
"By June... We will able to float the tender. So, hopefully, we want to complete the tender process by year-end.
"If everything goes well, by next year, we will be able add to our company's megawatt an installed capacity of another 50 MW," Singh said.
Without disclosing details, he said the company has "a good cash surplus" to fund its projects.
The entity posted a profit of Rs 972.74 crore in 2009-10.
SJVN is a joint venture between the Central government and Himachal Pradesh state government.
The company is also working towards setting up ten hydroelectric power projects in Himachal Pradesh, Uttarakhand as well as in neighbouring nations of Nepal and Bhutan. It currently has an installed capacity of 1,500 MW.
