Hindustan Zinc forays wind power-gen sector, invests Rs 400 crore

Mumbai, Nov 23 (UNI) The state owned Hindustan Zinc Ltd(HZL) today said it plans to enter wind power generation by setting up a 75 megawatt unit at a cost of Rs 400 crore.

In a statement issued to BSE, the company said the project could be located in Gujarat or Karnataka.

The HZL said it would invest Rs 777 crore for de-bottlenecking of its smelters, installation of equipment at mines and setting up an 80 MW power plant, which is likely to be completed by early 2008.

To enter into Wind Power Generation Business, the company said it is currently setting up a Wind Power Project up to 75 MW in the State of Gujarat and Karnataka at an estimated capital cost up to Rs 400 crores and is likely to be completed in phases during 2007 and 2008.

Both the projects will be funded from internal accruals, it added.

UNI SN SD AW1742