X-posting from solar energy thread
ReNew Power commissions 25 MW wind power project in Gujarat
In keeping with its commitment to become one of the leading renewable energy producers in India, ReNew Wind Power Pvt. Ltd., an independent power producer, has commissioned its first wind farm project at Jasdan, Rajkot district, Gujarat. The 25.2 MW facility was inaugurated by the Chief Minister of Gujarat, Mr. Narendra Modi.
Construction of the project began in October 2011 and was completed in March 2012. This facility comprises of 12 units of Suzlon S88 wind turbines with 2.1 MW capacity each. The project is selling its output under a under long-term PPA contract to Gujarat Urja Vikas Nigam Ltd (23.1 MW), and the remaining output to Philips India (2.1 MW).
Speaking at the inauguration ceremony, Mr. Modi said, “It gives me immense pleasure to welcome ReNew Power to Gujarat, our state has been a dominant player in the wind energy market and we look forward to have more and more projects and investments in the state to help build sustainable power source for energy starved India.”
The project demonstrates ReNew Power’s vision in recognizing the challenge of climate change, and its responsibility to combat it. “It gives us great pride to partner with the Government of Gujarat with its far reaching vision for wind potential in the state. We thank Mr. Modi for extending his support to ReNew Power and encouraging us by gracing today’s occasion,” Mr. Sumant Sinha, Founder Chairman and CEO, ReNew Power said.
Mr. Sinha added that in September 2011, global major, Goldman Sachs, had infused Rs 1,000 crore as equity. ReNew Wind Power bought 12 turbines of 2.1 MW each for the project from Suzlon Energy. The PTC India Financial Services Ltd (PFC) financed the wind power project in a 70:30 debt-equity ratio.
Mr. Tulsi Tanti, Chairman, Suzlon Group, said that ReNew’s growth is a clear marker of the evolution of the Indian wind sector and its emergence as the world’s third largest market. “We are pleased to partner with ReNew, and look forward to building a long term partnership. We are confident that ReNew Power will play a leading role in shaping the wind sector of tomorrow,” he said.