News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/wind/greenworld-plans-20m-boost-to-india-joint-wind-venture.html

US-based green energy company GreenWorld Development plans to target the fast-growing wind energy market in India, which it said is one of the top five markets for wind, through growing a joint venture wind company.

The organisation said it intends to make an initial investment of $20m to expand its India-based joint venture company to become a leading wind energy producer in the region.
‘With regard to renewable energy – especially wind energy – India is probably the most promising market worldwide,’ said Leo Heinl, CEO of GreenWorld.
‘The Indian government is determined to become independent from expensive energy imports and is emphasising the importance of renewable energy sources. There is a huge and growing energy demand in line with India’s outstanding economic growth.’
GreenWorld has established a company structure in its Hamburg office in Germany that will co-operate with its partners in India, according to Heinl.
‘We are talking about an initial investment of approximately $20m and we intend to grow our Indian joint venture company to one of the major wind energy producers in India,’ he said.
The company anticipates getting an annual return of at least 12 per cent on its expanded wind energy projects and is in the process of investigating funding alternatives.