Denmark-based LM Wind Power has commissioned its second manufacturing plant in the country at Halol near Maharashtra and is looking to invest additional 13 million euros to boost capacity.
With the commissioning of its Vadodara manufacturing plant, which entailed an investment of around Rs 190 crore, the company expects the capacity to go up to 2,500 MW over the next 2-3 years. The company already has a capacity of 1,600 MW.
LM Power already has an operational facility in Karnataka.
"We want to increase our existing capacity to 2,500 MW in the next 2-3 years and we may invest an additional 13 million euros for the same," company's Chief Executive Officer Marc De Jong said during a conference here.
He said the company wants to bring its larger capacity blades to India, but since the import duty rules on technology goods in the country are not favourable, it becomes expensive for them to execute their plans.
"We are willing to bring larger capacity blades to the country for taping the growing market. These blades will be suited to low wind sites in the country.
"We hope the government eases rules for import of technology equipment. This will help the industry in many ways and also help match the target set by the government in renewable energy," Jong said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
