First Reserve Corp., an energy-focused private equity firm, has invested in Kalyani Group subsidiary Kenersys, the newly formed integrated wind energy company focused on design, assembly and marketing of wind turbine generators.
‘We are pleased to welcome First Reserve as a strategic investor in our wind energy business,’ says B.N. Kalyani, chairman of Kalyani Group. ‘With their expertise and knowledge in the energy industry, we will be able to further strengthen our business in the wind energy sector.’
The Kalyani Group currently supplies key wind turbine sub-components to component manufacturers and has utilized these relationships to secure components for Kenersys. The company plans to design and develop several key components for original equipment manufacturers and Tier I companies in the industry, thus reducing its reliance on outside suppliers.
Kenersys' initial products, 2 MW and 2.5 MW turbines, are currently in the detail design phase, with commercialization expected later this year or early 2009. The company says it will focus initially on assembling and marketing turbines in Europe and Asia Pacific, while other regions, including North America, are expected to follow.