SHARE

WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) disclosed that its Indian subsidiary firm, WindStream Energy Technologies Pvt. Ltd. has been selected by the MNRE to participate in an R&D project named as “Small Wind Energy and Hybrid Systems” or “SWES” to help set the standards that will be accepted by the MNRE for all makers of hybrid energy solutions.

The details

 In February, the MNRE requested for proposals to help define the growing sector of hybrid energy and to help it with developing a benchmark for all companies going forward. WindStream subsidiary proposal was approved for the small wind sector utilizing solar panels and vertical axis turbines. Seventeen respondents were selected of the many submissions and Indian unit of Windstream was one of two companies selected, with the remainder being government research programs and academic institutions.

The process

The MNRE has formulated standards and has a definite process in place for accepting large wind and solar utility scale, products. It is attempting to discover technologies that deals with its energy challenges in remote and rural areas and has adopted benefits of hybrid technologies. The MNRE project, when completed, is anticipated to certify numerous technologies that are seen viable for use in remote off-grid areas. There are more than 400 million people in India without a grid connection and the recent MNRE plan is an attempt to solve the problem.

The expert speaks

Venkat Kumar Tangirala, the President of WindStream India, said that when management first heard about the MNRE program, they knew they had the most effective and viable solution. It is a moment of pride for company to become a part of it. The SolarMill® will now be officially tested and evaluated by MNRE. If the results are positive, it would open up a huge sales channel for WindStream products. In last trading session, the stock price of WSTRI declined more than 6% to close the trading session at $0.0515.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

https://www.journaltranscript.com/disclaimer

LEAVE A REPLY