Thermax eyes green energy

Huge plan outlay of over 61 per cent proposed in the current Budget proposals in which Government has increased its share from the current Rs. 620 crore to Rs. 12000 crore for the coming fiscal will open up huge business opportunities in the green energy sector. Additionally, other incentives including 5 per cent Customs Duty concession to machinery instruments, equipment and appliances for setting up photovoltaic and solar thermal power generating units, which have also been exempted from central excise duty, will go a long way to boost business in the sector.

According to Managing Director and Chief Executive Officer, M. S. Unnikrishnan, green energy sector has huge commercial opportunities as still in large number of villages in India electricity transmission lines have not yet reached. To bridge this deficit in the transmission sector proposed incentives will boost implementation of projects in these areas.

Taking the cost scenario into consideration he added that currently setting up a unit to generate one megawatt of solar power involves more than double as compared to coal based thermal power cost per unit. Thermax is currently foraying into geothermal energy as the Budget proposals have exempted ground sources heat pumps used to tap geothermal energy from basic Custom Duty and special additional duty. Apart from this, his company is also looking big business opportunities in water, waste water and sewage disposals and sewage treatment arenas to cash in on the huge allocation for infrastructure under the Jawaharlal Nehru National Urban Renewal Mission.