Vestas-RRB targets Rs 3,000 cr revenue in FY 2007-08

Chennai, July 29: Wind turbine manufacturers Vestas RRB was expecting a revenue of Rs 3,000 crore by 2007-08 after its new Wind Electric Generator (WEG) blade manufacturing facility goes on stream by the end of this fiscal.

Addressing a press conference here, its Managing Director Rakesh Bakshi said the company would increase its installed capacity from 130 MW at the end of 2005-06 to 300 MW this fiscal, before growing more than 100 per cent to 700 MW next year.

Considering the huge demand, both in domestic and global markets and the favourable order book for next year, Vestas-RRB was confident of achieving the installed capacity of 700 MW in 2007-08, thereby increasing its revenue from Rs 610 crore last year to Rs 1000 crore this financial year and to the targetted Rs 3000 crores, he added.

He said the company would start exporting wind turbines to various countries in Europe, North and South America, especially to Brazil, Argentina, Chile, Canada and United States from this fiscal and was expecting a revenue of 15 to 20 per cent.

Mr Bakshi said the blade manufacturing facility was being set up at its existing WEG plant at Poonamallee on the outskirts of the city with an initial outlay of Rs 35 crore for manufacturing 23 m long WEG blades by using advanced pre-impregnated reinforced glass technology.

In the first year of production, which was expected to commence in April 2007, the company would manufacture 350 sets of blades (one set is three blades) and enhance it to 700 in the second year.

In the second phase, the company would invest Rs 65 crore for expanding the facility to produce higher capacity of WEGs to provide captive power for the facility.

UNI