Reliance Wind Energy, a subsidiary of Reliance Energy, on Monday said it has signed an agreement with Suzlon Energy for setting up a 150 MW wind power project, in which the Anil Dhirubhai Ambani group firm would invest Rs 900 crore (Rs 9 billion).The wind farm would be set up by Suzlon Energy in Sangli district of Maharashtra and the project is expected to be rolled out by March 2008.
RWE said in a release that the project will be completed in two phases and would generate 380 million units per annum after completion, which would be purchased by Reliance Energy Limited for its Mumbai distribution business.
Revealing the future strategy, the company said it has plans to set up 500 MW of wind power in various states over the next 2-3 years and this 150 MW project will make Reliance ADA Group one of the biggest wind energy generators in the country.
"Wind Energy has got a huge potential in the country and its clean and easy to setup. We are looking at all the opportunities to augment our generation capacity," the release quoting a group spokesperson said.
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