Dec 15, 2014 - US-based WindStream Technologies (OTCBB:WSTI) will start construction of a factory for its hybrid renewable power systems near the Rajiv Gandhi International Airport in the Indian state of Hyderabad.
In a press release today, the company said it has signed the lease for the site, which will host its new 50,000-sq-ft (4,650 sq m) manufacturing plant. The site will look like WindStream’s first factory in North Vernon, Indiana. Financing for the project comes from the USD-2-million joint venture deal, unveiled last week, with Chennai-based West Coast Ventures (India) Pvt Ltd and Deepan Group.
The official groundbreaking event is scheduled for January 18, with a move-in date 70 days from the launch of construction.
At the new plant, WindStream will manufacture its SolarMill wind-solar hybrid systems. Aside from India, the local joint venture will also offer its products in Pakistan, Bangladesh, Indonesia, Malaysia and Southeast Asia. The company said previously that the first SolarMill systems will be available late in the first quarter of 2015.
The SolarMill distributed energy system combines vertical-axis wind turbines and solar panels, controlled by smart electronics. WindStream’s decision to pursue growth opportunities in India has been motivated by the country's lack of generation capacity, government initiatives and financial incentives to promote distributed energy solutions.
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