Shimla: Public sector hydropower major Satluj Jal Vidyut Nigam Ltd (SJVNL) has started its maiden wind energy project in Maharashtra and it is likely to be commissioned by next year, company's official said here Wednesday.
For this, it entered into an agreement this month with Spanish renewable energy company Gamesa Corporacion Tecnologica on a turnkey basis.
"The 47.6 MW project in Ahmednagar district is expected to be commissioned by next year with an investment Rs.300 crore," SJVNL deputy general manager Vijay Verma told IANS.
He said 56 turbines of 850 KW each would be installed.
The SJVNL forays into the renewable energy sector project for the first time. Officials said the project is likely to be commissioned by next June.
With 10 hydropower projects in Nepal, Bhutan, Arunachal Pradesh, Manipur, Uttarakhand and Himachal Pradesh under execution, the SJVNL aims to tap 6,000 MW by 2020.
SJVNL's maiden 1,500 MW Nathpa Jhakri hydropower project, the country largest hydropower project, is in Shimla district. It started generation in 2004-05.
Its second mega hydropower project, the 412 MW Rampur hydroelectric project in upper Shimla, is likely to be commissioned by early 2013.
The company's total revenue jumped to Rs.2,136.79 crore in 2011-12 from Rs.1,979.16 crore the previous year and the net profit to Rs.1,068 crore from Rs.912 crore.
The company paid Rs.389 crore as dividend compared to Rs.334 crore last year. The earning per share increased to Rs.0.94 from Rs.0.80 the previous year.