Wind turbine maker Suzlon Group said on Wednesday it has bagged orders for 210 MW of solar projects from the Southern Power Distribution Company of Telangana, marking its foray into the sector.
The company has received Letters of Intent (LoI) from the Southern Power Distribution Company of Telangana Ltd (TSSPDCL) for setting up total 210 MW in six different capacities across the state, Suzlon said in a statement.
Suzlon won the projects through a competitive bidding process. Under the contract, it will set up one project of 100 MW, one of 50 MW and four of 15 MW each, all expected to be commissioned in 2016-17, the statement said.
“Solar and wind are complementary, hence we will leverage our project execution capabilities and end-to-end solutions to deliver solar projects.
“With a strong backing of skilled workforce, excellent operations, maintenance service network and current infrastructure, I am confident that our maiden solar journey would be a success,” Suzlon Group Chairman Tulsi Tanti said.
He said these projects have further boosted its strong presence in renewable energy sector.
“We aim to contribute to the nation’s sustainable growth by offering clean energy solutions with innovative technologies and unique business model. We are also working on integrated renewable energy solutions by combining wind and solar projects at a single location,” Tanti added.
He added that the projects will be built under different special purpose vehicles (SPVs). While one project will be executed by the firm’s already existing subsidiary, the company has, through 100 per cent acquisition, formed five more SPVs — Amun Solarfarms, Avighna Solarfarms, Prathamesh Solarfarms, Rudra Solarfarms, and Vayudoot Solarfarms.
“At present, these acquired companies do not have any operations or assets and are acquired primarily to be used as SPVs for the proposed solar projects,” the statement said.
Suzlon will sign six power purchase agreements (PPAs) this month with state utilities for a 25-year period, it added.
[Source:- business today]