January 13, 2016
Suzlon forays into Solar; wins 210MW projects in Telangana
- Suzlons renewable energy portfolio enhances, adding solar with 210MW maiden projects
- Suzlon plans to develop solar PV (Photovoltaic) projects aggregating 210MW at 6 sites across Telangana
- Suzlon will be the developer and engineering, procurement and construction (EPC) provider
Mumbai, India: Suzlon Group, one of Indias leading wind turbine manufacturers, today announced
its foray into the solar sector with 210MW Letters of Intent (LOIs) from the State utility, Southern
Power Distribution Company of Telangana Limited (TSSPDCL). Suzlon won the projects through a
competitive bidding process. The 210MW of projects consist of six different capacity projects to be
located across the State. This includes one project of 100MW, one of 50MW and four projects of
15MW each. These projects shall be commissioned in FY 2016-17.
These solar projects will be built under 6 different Special Purpose Vehicle (SPVs), of which 1 is an
existing subsidiary of Suzlon, while following 5 have been acquired (by acquiring 100% shareholding),
which will be used as the proposed Solar SPVs for the project:
- Amun Solarfarms Private Limited
- Avighna Solarfarms Private Limited
- Prathamesh Solarfarms Private Limited
- Rudra Solarfarms Private Limited, and
- Vayudoot Solarfarms Private Limited.
These acquired companies do not have any operations or assets currently and are acquired primarily
to be used as SPVs for the proposed solar projects. The acquisitions have been made at the face
value.
Suzlon will sign six Power Purchase Agreements (PPAs) this month with the state utilities for a 25
year period. Suzlon will leverage its end-to-end clean energy solutions expertise to oversee the solar
project from concept to commissioning.
In April 2015, the TSSPDCL invited bids for procuring 2000MW Solar PV projects through a tariff
based, competitive bidding process with a unique distributed generation model to utilize the
substation capacities across the state.
Mr. Rohit Modi, CEO (International Operation and New Business), Suzlon Energy said, We are
proud to partner with Telangana State Government in this opportunity for providing sustainable and
affordable energy with a unique and cost efficient model of distributed power generation across the
state. With our expertise in building renewable energy projects, we are geared to complete the
project within the set timelines and look forward to strengthening our relationship with Telangana
State. We look forward to sustaining our growth in the solar sector. This 210MW project will
reinforce our commitment to execute tangible capacities in solar energy every year while expanding
our footprint. Suzlon will develop these projects on a turnkey basis.
Mr. Tulsi Tanti, Chairman, Suzlon Group 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 and maintenance service network, current
infrastructure and 20 years of experience in building the wind business, I am confident that our
maiden solar journey would be a success. It has further boosted Suzlons strong presence in
renewable energy sector. We aim to contribute to the nations 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.
