By Renewable Energy Focus staff
The deal, valued at US$1.28 billion, will see the delivery of various Suzlon wind turbines including the S88 and S9X series of 2.1 MW doubly-fed induction generators.
The S9X wind turbine series is designed with larger rotor diameter, increased hub height, improved aerodynamics and grid-friendly technology for low and moderate wind speed sites, Suzlon says.
Angad Paul, Non-Executive Chairman at CEL, says: “India’s energy market is one of the world’s most buoyant. With the supportive regulatory framework for wind energy, we see a great opportunity to invest as an IPP in what is the world’s fifth largest wind energy market.
“Recent improvements in the regulatory framework, such as the revised feed-in tariffs, renewable purchase obligation (RPO), generation-based initiatives (GBI) and renewable energy certificates (REC), give us an opportunity for value creation using a combination of various revenue options.”
CEIL, a subsidiary of CEL, is focused on becoming a leading independent power producer (IPP) in India.
Tulsi R. Tanti, Founder, Chairman and Managing Director of the Suzlon Group, adds: “This has been a strong year for wind in the Indian power market. Building on strong, transparent policy frameworks we now have a mature, attractive market.
“With large players like Caparo entering the market, we are also seeing large wind IPPs in India becoming a major force, in addition to the strong captive and small-size IPP segment. We are also seeing growing interest of overseas investors to deploy funds through the IPP-route.”