Ushdev International
Shortly after spinning off its wind power biz into wholly owned arm, Ushdev International is all set to finalize the purchase of wind power assets. The player is currently trading in ferrous and non-ferrous metals and had started investing in wind power in 1997, mainly to gain from the depreciation benefits and currently commands about 90MW of capacity, Managing Director and Group Chief Financial Officer Ashwin Rathi said, adding that the newly-formed subsidiary would raise its capacity from 90MW now to 350MW by the end of the current financial year and the entire addition would come by way of acquisitions. The company is currently carrying out due diligence for 20MW of assets of Gupta Coal and also looking at some assets of VRL Logistics, besides negotiating with two other listed companies that have put wind power assets on the block and one of them is a 90MW wind farm and the other commands 87MW wind power capacity.