SBI goes green, installs windmill for captive use

In pact with Suzlon Energy.

Source:BusinessLine: Coimbatore, April 23

It was with a sense of pride and a touch of symbolic triumph that the State Bank of India Chairman, Mr O.P. Bhatt, spoke at the inauguration of a windmill at Panapatti village, Pollachi Taluk, Tamil Nadu.

Speaking at what he called the “signal event”, Mr Bhatt said the bank's resolve to go green was o

ne of the many initiatives mooted in the last two-three years, and definitely one that would further its green banking initiative.

The bank has partnered with Suzlon Energy by installing windmills for captive use.
It has installed 10 windmills with an aggregate capacity of 15 MW in Tamil Nadu, Maharashtra and Gujarat.
The power generated by these windmills would be wheeled to various HT consumption points of the bank spread across these States, he said.

“It is not an IPP project; we are not selling to utilities. It is for captive use.”

Stating that the initiative was symbolically huge and reiterating the need for others to emulate State Bank in the green environment and clean energy initiative, he said the bank would add 20 MW during the next year.

“We will in due course estimate our carbon footprint and implement that much (100-150 MW) clean energy for the bank.”
 
Initiatives

He said SBI had spelt out several initiatives within the bank to further the cause of green banking by sensitising employees through training, workshops and education programmes; by investing in efficient lighting systems, energy savers and waste water management; and mooting a project within the bank to determine its carbon footprint.
The go-green resolve would extend to the new SBI buildings that it plans – at Pune, Hyderabad and Jaipur, among others.
“We offer concessional rate of finance for projects that are green, or for implementing clean technologies in building concepts. Carbon Credit Plus is a product for financing carbon credit receivables for our customers,” Mr Bhatt said

Referring to exploitation of resources beyond replaceable limits, the banker said: “It is because of our arrogance over science and technology that we have forgotten our wisdom and balance that is important to protect nature. If we do not maintain it (the balance), it will be a catastrophe of our own making.”


To a query on investment, he said: "It works out to Rs 10 crore for a windmill of 1.5 MW. Initially, the cost could be a fair amount and it is part of capital expenditure; operational cost would be nil though. We hope to recover the investment in four years. The cost of energy is going to be nil thereafter." Asked if the bank had identified the site and State for installing the additional 20 MW next year, he said: "It would be through a tender. We have now partnered with Suzlon." 

On carbon footprint, he said: "We will earn around 27,000 tonnes a year - all of them put together (referring to the installed 15 MW)." The bank's estimated energy consumption is 100 MW a year. Mr Bhatt accompanied by SBI dignitaries Mr Sanjay Bhattacharya, Managing Director; and Mr R. Sridharan, Managing Director and Group Executive; and the Suzlon Energy Chairman and Managing Director, Mr Tulsi R. Tanti; landed near the wind farm site in a helicopter.