Wind power offers huge potential as an energy source. The pollution free and inexpensive harnessing mechanism makes wind power a reliable and highly viable source of energy.
At Muthoot Alternate Energy Resources (MAER), a Muthoot Pappachan Group venture, we focus on the conservation of conventional energy sources by seeking alternate ones. Wind energy is one such non-conventional energy source. Wind turbines convert wind to electrical energy. This sustainable, renewable and environment friendly resource helps in conserving the nation's non-renewable resources. Wind energy is also the most cost effective energy resource in India today.
We made our beginnings at wind farms located in Muppandhal village in Kanyakumari district in Tamil Nadu in 1993 with an initial investment of Rs.8 Crores. IREDA, an agency of the World Bank, lent support to its venture with generous financial backing. In 2003, we infused another Rs.4 Crores and generated an additional 0.825 MW energy. The output rose to 1.25 MW in 2004.
Total installed capacity of Muthoot Pappachan Group in Wind Power is 25MW with a total investment of Rs.125 Crores. The Group has fully utilised the incentives offered by the Ministry of Non-Conventional Energy, Government of India.
Muthoot Alternate Energy Resources has now extended its operations into the adjoining wind prone regions of Thirunelveli district. It symbolises the Group's resolve to contribute towards autonomy in the power sector.