Page 81 - IACC Newsletter March-April 2014 Issue 03

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On the 2008 crisis
We made a very conscious decision to continue to invest in our future, and you see the results of that in our product
portfolio. Even through the crisis, we continued to invest in our future, which is fundamentally our future product plans.
On future products
We don't discuss our engineering budget. I can tell you we have committed to invest $2 billion in India and about a billion
of that is in Sanand in the two plants that we are building, the engine plant and the assembly plant, and we will create
thousands of jobs and that plant is going to be a key part of our future growth in India and as well as our exports strategy.
That is a very big commitment in terms of dollars and we have made similar commitments in China, Asean, so we are
focused on our future.
On Raj Nair
Raj is an absolutely fantastic guy to work for, he is a great leader, who is technically knowledgeable and he is very
knowledgeable of multiple markets. He has worked in Europe, North America and Asia so he has a very global mindset and
a brilliant guy.
On working at Ford
Ford has a fantastic culture in that sense, rewards merit. It is a merit-based system, if you perform, if you deliver you will
be rewarded. It is a very diverse company, Raj is obviously in a very senior position, I am very fortunate to have a cool job
in the company, and our global head of our purchasing is a Vietnamese American, so there are people from all over. Alan
Mulally himself has come from a completely different industry (Boeing) and he has been a great leader. So the Ford
culture itself is a very collaborative and very much based on meritocracy.
Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved.
GE Energy invests $24 Million in Welspun’s solar project
GE Energy Financial Services is making its first investment in a solar power project in India.
It is pumping $24 million into a 151-megawatt solar photovoltaic power project that Welspun Renewables Energy Pvt Ltd
(WREPL) had put into operation in August last year.
The Neemuch project in Madhya Pradesh — one of the world’s largest solar plants — powers 624,000 homes and
mitigates an estimated 216,372 tonnes of carbon emission annually.
High radiation
This project is located on an 800-acre site in Neemuch, which sits on a 500-metre-high barren land ridge in Madhya
Pradesh. WREPL’s project has reached a capacity utilisation factor of 26 per cent. The site receives among the highest
levels of radiation in India.
Power from the project is sold to the Madhya Pradesh state utility. “The combination of our renewable project
development expertise and GE’s financial strength and risk management will help achieve the ambitious goals set by the
Government to expand the use of renewable energy in India,” said Vineet Mittal, Vice-Chairman, WREPL.
Raghuveer Kurada, business leader for India and South-East Asia at GE Energy Financial Services, said GE Energy Financial
Services’ investment in Welspun Renewables’ solar project will help realize the potential for the development of solar
power in India.
Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved.