Seakinetics to Add Tamil Nadu Wind Energy Project in India; Seeks to Diversify and Grow its Green Energy Portfolio
Toronto, Ontario – Seakinetics Corp will soon launch its first mega project in the renewable wind energy sector which over the next decade can well add over $US 1 billion in annual revenues. The Company recently reported that it is completing a purchase transaction with RETECH Project Financing, a unit of Cougar Capital Ltd, which will place RETECH’s Tamil Nadu wind energy development program in the Shencottah Pass region in Southern India under Seakinetics ownership and day to day management.
The Tamil Nadu project has the potential to grow into a 300 MW wind energy project capable of lighting up over 300,000 average Indian households located in Southern India. When fully completed, the Tamil Nadu wind farm will comprise of 6000 acres and utilize 500 0.6 MW turbines to generate electric power for the National Power Grid system in the State of Tamil Nadu, India.
Explains Jack Dhaliwal, chief architect of the Tamil Nadu project, “In terms of ‘green’ energy, wind power ranks as the front runner to replacing traditional fossil fuels. The key advantage to adding wind energy to Seakinetic’s prospective revenue stream is best demonstrated by the low infrastructure cost per unit of energy generated. As such, the successful development of the Tamil Nadu wind farm has potential of generating above average returns for stakeholders over the medium to longer term.”
Seakinetics was established for the purpose of designing, developing, marketing and investing in innovative technologies and services in the renewable energy field.
Seakinetics Corporation is listed on the Open Market Segment of the Frankfurt Borse. A public offering of Seakinetics shares was not made in connection with their inclusion on the Open Market Frankfurt.
Seakinetics Corporation is also listed on the Pink Sheets in the United States.
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