Comments
Chennai-based Wheels India Ltd has signed a technology transfer agreement with Fluitecnik of Spain for hydraulic components used in wind turbines.
The Rs 2,024-crore TVS group company signed this agreement on November 14 in Chennai. Fluitecnik is visiting India as part of a business delegation from the state of Navarra, Spain.
Confirming this, Srivats Ram, Managing Director, Wheels India, told Business Line that the company already supplies structural parts to wind turbines. With Fluitecnik know-how, it would get into “slightly more tech-related products.”
He said that the decision to get into hydraulic components for wind turbines followed demand from Wheels India’s customers.
Wheels India primarily manufactures automotive wheels, air suspension products but has also diversified into ‘energy equipment parts’ and ‘heavy engineering products’.
Ram said it would take time for Wheels India to be able to offer products made with Fluitecnik know-how because of the processes involved in working the agreement. “At least end of next financial year,” he stressed.
NIWE MoU with Cener
Meanwhile, the National Institute of Wind Energy (NIWE) today signed a MoU with Centro Nacionl De Energias Renovables (CENER), Spain’s renewable energy research body.
The MoU is meant for jointly identifying areas of collaboration and is expected to lead on to a more structure agreement later.
Dr S Gomathinayagam, Director-General, NIWE, said that CENER would help NIWE acquire expertise in testing drive trains and blades of wind turbines. The Spanish body will also assist NIWE in capacity building.
India is a very attractive market for Spanish wind energy company, said Manu Ayerdi Olaizola, Vice President of Economic Development of the Government of Navarre, Spain (a political position).
He said that Spanish companies looked forward to markets that offered long term prospects and liked India for that reason. The presence of Spanish wind power companies such as Gamesa and Acciona have given other companies confidence to plan for operations in India, he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.