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Hatsun Agro Product Ltd has decided to take a stake in a power project, including wind mill, to meet its captive needs.
The company has informed the BSE that its Board has approved a proposal to take a stake of not less than 26 per cent in a company engaged in windmill or other forms of power generation.
The objective is to secure adequate power for its operations in Tamil Nadu.
Hatsun Agro is among the largest private sector dairy selling branded liquid milk named ‘Arokya'; milk products ‘Hatsun'; and ice creams under the brand name Arun Icecreams.
Cost saving
Mr R.G. Chandramogan, Chairman and Managing Director, Hatsun Agro, said the company needs to secure its energy needs in the back drop of increasing costs and shortage of power.
Captive power
A minimum of 26 per cent stake in a power generating entity will give it access to captive power. Hatsun's units in Tamil Nadu use over 4.5 crore units of HT electricity annually, about 1.23 lakh unit daily.
Hatsun has a capacity to process over 23 lakh litres of milk daily and its power cost ranges around Rs 5.50 a unit now, he said.
The company is in negotiations with a couple of power generators, he said.
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