Answer is blowing in the wind
29 Sep 2001
Pune: Wind energy is attracting serious investment from corporate houses. And in doing so, these brick-and-mortar companies are not only producing pollution-free power but saving substantial money as well.
Take the case of Bajaj Auto. As much as 70 per cent of the two-wheeler giant's energy need is being met by wind energy. And the company saved Rs 30 crore in just one year.
The return on investment in wind energy is 30 per cent. So, we recover the principle amount in three years and start making profit from the fourth year, says Bajaj Auto vice-president (finance) Sanjiv Bajaj.
Investment in wind energy entitles Bajaj Auto to claim exemption from sales tax on the vehicles the company produces. Add to this the benefit of depreciation and the investment becomes a money-spinning proposition.
Bajaj Auto has invested Rs 285 crore in wind energy farms to generate 50 MW of power. The money has gone into financing 30 MW of power generation from the Vankuswade wind farm near Satara and 20 MW of power from the Supa farm near Ahmednagar.