R. S Group to set up renewable energy farm

Pune: Gurgaon-based R.S. India Group is setting up the first integrated renewable energy farm in the country at Patan, in Satara district near Pune. The first phase of the Rs 700-crore project, for which 1400 acres has been acquired will have an installed capacity to generate 100 MW wind power, 5 MW of solar power and extract bio-diesel from jatropha plantations on 225 hectares.

The second phase of the project involves adding installed capacity of another 200 MW of wind energy and planting jatropha on 225 another 225 hectares.

The project, the foundation stone for which was laid by the Union Minister for Power, Mr Sushilkumar Shinde, on Wednesday, is being set up with lease financial assistance of Rs 487 crore by the Power Finance Corporation Ltd. The promoter, R.S. Group, is investing Rs 100 crore in it, and the Power Trading Corporation has a 37 per cent equity participation in the new company formed for the purpose, R S India Wind Energy Pvt Ltd (RSIWEL) amounting to Rs 54 crore.

Mr Raj Kumar Yadav, Chairman and Managing Director, RSIWEL, said that the first of the wind turbines, being put up by Denmark-based Vestas RRB, would be in place by the end of the month. The second phase will be commissioned by December, while a third phase, which would be financed through debt, is also on the anvil taking the total installed capacity to 500 MW by the end of 2009. The location of the facility has not yet been finalised, but Goa, Maharashtra and Gurgaon were probable, he said.