TBEA to invest Rs 500 cr in renewable energy
By Rahul Kamat
Chinese transformer maker TBEA will invest Rs 500 crore in its second phase unit located at Vadodra, Gujarat, which will cater to the renewable energy sector, said Zhang Xin, Chairman, TBEA Co Ltd. In the first phase, which has inaugurated by Anandiben Patel, Chief Minister, Gujarat, the company has invested Rs 1,000 crore. It will manufacture high voltage transformers (765 kV) and reactors (765 kV) at this newly inaugurated plant. Xin has told Power Today that the new facility will cater to the domestic as well as international demand. "50 per cent of our product will be for domestic and remaining products will be for export market," said the Chairman. The transformer and reactor maker has an aim to manufacture 1,000 kV transformers for India which can singlehandedly distribute 6,000 MW of power at a time. "The annual capacity of the current manufacturing unit will be around 20 million kV and it will be gradually increased as per the demand from the Indian power sector," said Gopal Gupta, Director and CEO, TBEA Energy (India). He added, "For the first phase we have recruited 500 employees of which 92.6 per cent are locally hired and we have plans to add another 500 once the second phase is ready." TBEA had signed a memorandum of understanding with the Gujarat Government in 2011. However, construction started in mid-2012. "Although it takes three years to complete such plants, due to local and international expertise, we completed this plant in flat 18 months," said Liu Gang, Deputy General Manager, TBEA Co Ltd.