TD Power Systems, a manufacturer of electric generators, is on an expansion drive to enter the large electric generators space and is investing Rs 200 crore for the expansion.
The BSE-listed company currently manufactures generators of sizes 1MW to 55 MW and proposes to increase the range from 50 MW to 250 MW, the company's Joint Managing Director, Mr Nikhil Kumar, told Business Line .
The three-year expansion programme for which the company is hiring about 400 people, will break State-owned BHEL's monopoly in the large generators manufacturing space, Mr Kumar pointed out.
BHEL (Bharat Heavy Electricals Ltd) is currently the only manufacturer of large generators, and with a lot of demand for the products, Chinese equipment is being imported into India, Mr Kumar said. He added that while the company does not have orders for large generators on hand, they foresee good demand for the products. “We would like to elbow out the Chinese and also grab some market share from BHEL,” Mr Kumar said.
The Rs 750-crore company is in the process of setting up a factory in Bangalore and expects the new facility to be ready in June this year. It expects orders from both domestic and international markets, according to Mr Kumar. Currently, 20 per cent of revenues come from exports and “this part will be dramatically increasing,” Mr Kumar said. TD Power Systems expects to close 2012 with revenues of Rs 1,000 crore.
The company currently manufactures electric generators for steam turbines, gas turbines, hydro turbines, and diesel and gas engines and has strategic tie-ups with Siemens, Voith and GE for both technology and marketing products outside India.
The company also has a small portfolio of machines for the renewables space. “This portfolio is right now very low – about 5 per cent but these will increase to about 20 per cent over the next two years as we are making a big push into wind and solar thermal,” Mr Kumar said, adding that the company has contracts with GE Wind and Vestas.
TD Power Systems also has a projects division to build steam turbine power plants up to 150 MW on a turnkey basis.