ADB, IREDA to co-finance Tata Power wind energy project

Kolkata, May 8 (UNI) The Indian Renewable Energy Development Agency (IREDA), along with the Asian Development Bank (ADB), will co-finance Tata Power's wind energy project in Maharashtra.

The project is expected to produce about 100 MW of power.

ADB would help finance the construction and operation of wind energy facilities of Tata Power Company Ltd, the largest private power company in the country.

Speaking on the sidelines of a programme here today, IREDA Managing Director Debashish Majumdar said they would invest around Rs 91 crore.

Maharashtra, where the Tata Power projects are located, is one of the leading states to promote wind power generation. The installed wind power capacity in the state was 1,242 MW till September 2006.

Tata Power has implemented two projects in Maharashtra, one is near Khandke village in Ahmednagar district, while the other is near Bramanvel village in Dhulia district.

He said, ''We are looking at other project also for equity participation.'' ADB would provide a loan of up to Rs 352 crore to Tata Power for setting up and operating wind energy facilities at two locations in that state.

UNI