Suzlon Enhances Renewables Portfolio With Foray Into Solar Sector

Posted by Betsy Lillian on January 13, 2016 No Comments
Categories : New & Noteworthy
Indian turbine manufacturer Suzlon Group has announcedits foray into the solar sector: With letters of intent from Southern Power Distribution Co. of Telangana Ltd. (TSSPDCL), Suzlon will be adding six projects totaling 210 MW across the state of Telangana, India.

Suzlon says it won the solar projects through a competitive bidding process. The facilities, to be commissioned next year, include one 100 MW project, one 50 MW project and four 15 MW projects. Last April, the TSSPDCL invited bids for procuring 2,000 MW of solar PV projects through a tariff-based bidding process with a unique, distributed generation model to use the substation capacities across the state.

“Solar and wind are complementary; hence, we will leverage our project-execution capabilities and end-to-end solutions to deliver solar projects,” says Tulsi Tanti, chairman of Suzlon Group.

“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 explains.

The solar projects will be built under six different special purpose vehicles (SPVs), one of which is an existing subsidiary of Suzlon. Five have been acquired and will be used as the proposed solar SPVs for the projects: Amun Solarfarms Private Ltd., Avighna Solarfarms Private Ltd., Prathamesh Solarfarms Private Ltd., Rudra Solarfarms Private Ltd. and Vayudoot Solarfarms Private Ltd.

Suzlon notes that these companies do not currently have any operations or assets and are being acquired primarily to be used as SPVs for the proposed solar projects. The acquisitions have been made at face value.

Suzlon will sign six power purchase agreements this month with the state utilities for a 25-year period. The company will oversee the projects from concept to commissioning.

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