The proposal on putting up a manufacturing unit for a Wind Turbine Plant, to be precise, an Electric Generator and Rotor blades at Udaipur has been approved by the Government of Rajasthan in the state cabinet meeting held at Jaipur on Wednesday, 4^th January. This project is being taken up by Regen Powertech Private Limited, the 5^th largest Wind Turbine supplier of India and L.M. Wind Power Blades (India).

Industry Minister, Rajendra Pareek informed that for the first five years, the company will be provided a 75% reimbursement on VAT/CST; exemption in entry tax on Plant and Machinery and other facilities according to the provisions of RIPS-2010.

“In the state cabinet meeting where this proposal was accepted, other proposals worth Rs. 70,000 cores have been sanctioned for different regions of the state for various investments. This period is anticipated to be the most favorable time for investments”, said Pareek.

Regen Powertech Private Limited has its first plant situated at Tada, 70kms from Chennai and after this approval, the company will start its second plant at Udaipur, probably in Jan 2012.

K Varhala Rao, Director of Regen Powertech said to the media, “we have signed a licensing agreement with Vensys for a 2.5MW turbine which will start producing this year and the plant will be able to manufacture 300 turbines a year.”

Approval of Regen’s proposal for investment in Udaipur is the first major development for the city in the beginning of New Year. It brings along a favorable anticipation to economic development in the region as well as in the country.

information courtesy TOI, Rechargenews, Bloomberg