LM Wind Power sets up EUR 25-mn turbine blade plant in Halol.

Danish wind turbine blades maker, LM Wind Power, has commissioned its second manufacturing facility in India at Halol near Vadodara with an investment of EUR 25 million (approximately Rs. 190 crore).

WIth the commissioning of the new plant at Halol, LM Wind Power's total installed capacity in the country has increased to 1.6 Gigawatts (Gw) per annum, which includes 1 Gw at its existing facility at Dabaspet in Karnataka.

Buoyed by the government's emphasis on renewable energy sources for generation of electricity, the company has laid out ambitious revenue targets of Rs. 1,200 crore for 2016 against Rs. 760 crore in 2015.

'We are very optimistic about the growth of the wind energy sector in India with the Government of India setting a target of 60 Gw by 2022. We have over 20 years of experience of operations in India,' said Marc de Jong, CEO of the company.

Spread across 50 acres of area, the plant employs over 400 workers, mostly recruited from the nearby villages.

Commenting on the growth prospects in India, Niraj Bisaria, Head, India operations of the company said, 'Our order-book is fully booked by domestic customers alone. Our revenues were Rs. 750 crore in 2015, which we expect to increase to Rs. 1,200 crore by the end of 2016.'

The company has a global technical centre for research, development and services in Bangalore.

The company also plans to enhance its existing installed capacity of 1.6 Gw per annum to 2.5 Gw per annum in the next two-three years, requiring an additional estimated investment of around EUR 13 million.

At the Halol plant, the company has the capacity to build blades up to 60 metres in length with room for expansion. The wind turbine blades will be supplied to the northern parts of the country and beyond.

“We expect to prosper here, as we have in Dabaspet, applying international standards in safety, quality and business conduct as well as becoming an active corporate citizen in the local community,' added Marc.

The plant, which was announced in November last year, began producing wind turbine blades a full month ahead of schedule.

HBL