September 21, 2010
Suzlon wins a 202 MW order of ~INR 1149 crore from Techno Electric Group
- Order is part of a major new business agreement of 500 MW signed
with Suzlon as the preferred supplier. - This is the single largest deal by an Independent Power Producer (IPP)
in India for wind power investment. - This order will take Techno Electric Groups total wind power portfolio
to over 297 MW.
Pune: Suzlon Energy Limited (SEL), the worlds third leading* and Indias largest wind
turbine manufacturer, announced the signing of a new order with Kolkata based Techno
Electric Group, for over 202.2 (megawatt) MW wind power projects for approximately INR
1149 crore (~USD 251 million). Techno Electric combines heavy engineering and light
construction capabilities across Indias power generation, transmission and distribution
segments. With a clear focus on green energy, the Group has emerged as an independent
power producer (IPP) with operational wind power projects of more than 95 MW, set-up and
operated by Suzlon, in the states of Tamil Nadu and Karnataka. The Group plans to scale up
its wind power assets further and has signed a business agreement with Suzlon, as its
preferred supplier, for development of 500 MW of new capacity. The 202 MW order is part of
this agreement and is the single largest deal signed by an IPP customer in the wind power
sector of India.
The order comprises of 24 units of Suzlons S88 2.1 MW wind turbine generators (WTGs),
34 units of Suzlons S82 1.5 MW WTGs and 48 units of Suzlons new S95 2.1 MW WTGs.
The first phase of 101.4 MW will be commissioned in the state of Tamil Nadu by June 2011.
The second phase of 100.8 MW will be commissioned by December 2011.
The wind power sector in India has matured over two decades, with a cumulative installed
capacity of over 12,000 MW. The total estimated onshore wind power potential in India, as
per Ministry of New and Renewable Energy (MNRE) data is over 48,000 MW. The sector is
poised for accelerated growth as a result of strong policy support and positive investment
outlook by the customers. Suzlon is the market leader in wind power for 12 consecutive
years, with a market share of approximately 50 per cent.
Speaking on the project, Mr. P. P. Gupta, Managing Director, Techno Electric and
Engineering Company Limited said, We clearly see a great future and substantial
growth opportunities for IPPs in Indias wind energy market. We are optimistic about the
value creation using a combination of various revenue options, such as the attractive feedin
tariff, Generation Based Incentive, Renewable Energy Certificates and trading power
under the open access system.
We are very satisfied with the performance of our existing 95.45 MW of wind energy
projects set-up and operated by Suzlon, and decided to further strengthen our association
with this new order. We did a diligent evaluation of various options on the basis of life cycle
value contribution to ably support our ambitious 500 MW development plan. Suzlon was the
obvious choice with its proven performance, reliable technology, established end-to-end
solution capabilities and great customer service. We count on the expertise of Indias
leading wind power player in our endeavor to become a major wind power IPP in India.
Mr. Tulsi R. Tanti, Chairman and Managing Director, Suzlon Energy said, The Techno
Electric Group are revered customers and we have very successful projects with them. We
are honored to have the opportunity to partner with them again.
This order stands testament to a new phase of IPP investments in wind power. The IPP
segment has the capability to augment bigger wind power capacities quickly. We are fully
geared to meet this segments specific requirements by adapting to the fast-changing
market dynamics, in terms of customer needs, business model, product technology and
policy framework.
We are committed to build the backbone of the nation with installation of large scale wind
power projects which shall contribute towards energy security and sustainable economic
development of India.
