Gujarat NRE Coke strengthens in wind energy

Gujarat NRE Coke has announced a further investment of Rs175 crore in the form of 20 windmills of 1500 KW each. This will be in addition to the 27.5 MW of clean power the company already has in Gujarat and is being set up in the Kutch district in Gujarat. These windmills will go into generation in a phased manner - 10 becoming operational by March 2008, while the rest will go into generation by September 2008 taking the combined generation capacity of the company to 57.5 MW from wind mills alone. The company will be developing a CDM project to improve the returns on the investment. The company is also in the process of setting up coke oven flu gas based power plants in all its production facilities which will have the capacity of generation another 45 MW of clean power.The company is the largest independent producer of Low Ash Metallurgical Coke in the country. The only listed entity in the domain, it is the only Indian company to own and operate coal mines in Australia. A mine-to-market integrated, hyper efficient entity, the company is today operating in a market which is characterized by demand pulled spiraling prices. on this basis company looks good to invest.