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TVS Group lines up Rs 1,800 cr for wind energy

03 Oct 2011 Evaluate

The $4-billion group has lined up Rs 1,800 crore to set up wind energy farms of 200 Mw over the next three years, according Sundaram Clayton Ltd (SCL), a holding company of TVS Motor Company, India’s third-largest two-wheeler manufacturer. SCL will fund the projects through debt, equity and internal accruals. It has already commissioned two projects in Tamil Nadu — a 9.35-Mw facility at Gandamanur in Theni and another 14.4-Mw at Vagaikulam in Tirunelveli.  The new projects will be implemented by two special purpose vehicles, TVS Wind Power and TVS Wind Energy. TVS Energy, a 100 per cent subsidiary of TVS Motor, infused Rs 4.10 crore and Rs 10.15 crore into the two SPVs, respectively. SCL also infused Rs 4.50 crore into TVS Energy. According to SCL’s balance sheet, TVS Energy had Rs 56.25 crore in capital and Rs 165.97 crore in total assets. TVS Housing, a 100 per cent subsidiary of TVS Motor Company, will focus on low-cost housing. It is identifying land for projects. The housing arm had an asset base of Rs 32.06 crore and liability of similar amount.SCL, a leading automobile components manufacturer, plans to achieve Rs 1,000 crore in revenue this financial year, compared to Rs 762 crore in the previous year.

TVS Motor Share Price

3496.75 4.75 (0.14%)
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Peers
Company Name CMP
Bajaj Auto 10130.95
Hero MotoCorp 5066.80
TVS Motor 3496.75
Eicher Motors 7329.55
Ather Energy 934.40
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