Beta Wind Farm Pvt Ltd is planning to invest Rs 1,857 crore to set up a wind energy farm each in Tamil Nadu, Andhra Pradesh and Gujarat, according to the subsidiary of Orient Green Power Company Ltd, owned by the Shriram Group.
Beta was earlier planning to set up the proposed farms with the same total capital in Tirunelveli, Tuticorin and Theni , but it later decided to split the 300-megawatt endeavour and go for two more states, stating certain bottlenecks in Tamil Nadu.
Orient Green Power, in a communication to the shareholders, said “evacuation and infrastructure issues” in Tamil Nadu had prompted Beta to revisit the plan. It has now “decided to set up wind farms with a generation capacity of 156 Mw in Tamil Nadu and 144 Mw in the states of Gujarat and Andhra Pradesh, where also the returns are expected to be equally attractive in terms of power generation”. A consortium of 10 banks, led by Axis Bank, has sanctioned Rs 1,236 crore as a rupee term loan to Beta, which is engaged in generation, accumulation, transmission, distribution and supply of electricity, besides setting up of and/or maintenance of wind energy farms. The others banks include Canara Bank, Dena Bank, Karnataka Bank, Tamilnad Mercantile Bank, Vijaya Bank and Indian Overseas Bank.
Beta was earlier planning to set up the proposed farms with the same total capital in Tirunelveli, Tuticorin and Theni , but it later decided to split the 300-megawatt endeavour and go for two more states, stating certain bottlenecks in Tamil Nadu.
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