ICSA bags 20mw wind power project from NEDCAP AP
ICSA (India) Limited was awarded a 20 MW Wind power project in Anantapur district of Andhra Pradesh by Non-Conventional Energy Development Corporation of Andhra Pradesh Limited (NEDCAP).
Commenting upon the order bagged, Mr. Bala Reddy, Chairman and Managing Director, ICSA (India) Limited, said, “Considering the rising demand for Power projects in India and specially in Andhra Pradesh, this approval from NEDCAP for sanction of 20 MW capacity wind power project has come at the right time. This project will enhance the revenues and shall reduce the Income tax burden of the Company”. As non-renewable energy reserves are dwindling at an alarming rate, companies are making it a point to be more eco-friendly by going in for renewable energy power plants.
In February, ICSA secured contracts worth Rs. 43.97 crore from Northern Power Distribution Company of A.P. Limited and Transmission Corporation of Andhra Pradesh. In April 2008, the Government of Singapore along with its sub-accounts picked up equity stake in ICSA aggregating to 2211246 shares (5.0245%) and ICSA’s order book stands at INR 900 cr.
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