CHENNAI: Vestas Wind Systems A/S Denmark, a global leader in wind power, announced its plan to transfer its share of 49 per cent in the joint venture with India-based RRB Consultants Pvt. Ltd. With this, the joint venture company, Vestas RRB India Private Limited (Vestas RRB), would become a wholly owned Indian company.

Vestas Wind Systems entered the Indian market through an equity partnership with RRB Consultants more than a decade ago. The joint venture company, Vestas RRB India, has been manufacturing and marketing wind turbines of 225 kW and 500 kW with the know-how from Vestas of Denmark. Post this exit of Vestas, a cooperation agreement between the two would facilitate Vestas RRB to continue manufacture and market lower capacity turbines for which it already has Vestas's technology on hand.

Vestas will continue to be represented in India through its 100 per cent subsidiary, NEG Micon (India) Private Limited.

NEG Micon has been manufacturing and marketing both the 750 kW (NM 48 / 750) and 1,650 kW (NM 82 / 1650) turbines and will continue its focus on higher capacity turbines in line with Vestas global policy. NEG Micon (India) Pvt Ltd will change its name to Vestas (I) Pvt Ltd after obtaining the necessary approvals.

In a release issued here on Tuesday, Thorbjorn Rasmussen, President, Vestas Asia Pacific, said, "The decision to transfer our 49 per cent share in the joint venture took time as we wanted to ensure that both parties amicably settled all related issues. The repositioning of the two partners to the venture was done in a friendly manner to ensure that the business interests of both parties were not affected". Mr. Rasmussen further confirmed that the present management under Ramesh Kymal, Managing Director, would continue to run NEG Micon (India) Pvt. Ltd.

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