ITC Goes for Renewable Energy Package

Source from:  tobaccoreporter.com Oct 6, 2008 10/07/2008

ITC announced today that it would use wind-generated energy in its Packaging and Printing business as part of its commitment progressively to use renewable energy. In line with its vision of contributing meaningfully to sustainable development, the company said, it had recently commissioned a 14 MW wind energy project in Tamil Nadu (TN) involving the installation of nine windmills at a capital cost of about Rs900 million. The project would result in cost savings while enhancing its positive environmental footprint, the company added. The generation from the new windmills will be used for captive consumption of ITC's Packaging and Printing plant at Tiruvottiyur, Chennai, and it is proposed that the initiative will be registered as a Clean Development Mechanism (CDM) project with the CDM executive board set up under the Kyoto Protocol. Already, Wimco, Chennai, an ITC subsidiary, is using four turbines of 250 kW each feeding into the TN Electricity Board grid, and ITC's hotel in Hyderabad, the ITC Kakatiya, is using wind power as part of its energy portfolio. 'Going forward, ITC would like to progressively invest in developing more clean energy projects to enhance the company's contribution to its Triple Bottom Line objectives of simultaneously creating economic, environmental and social capital for India,' the company said in a press note. Enditem