Caparo plans wind energy parks

Speaking to Deccan Herald, Caparo Energy Ltd Vice Chairman and CEO Ravi Kailas said the project to be undertaken between now and 2017, across six wind energy-rich states of Tamil Nadu, Karnataka, Gujarat, Rajasthan, Maharashtra and Andhra Pradesh, will see investment of $5.5 billion (Rs 25,000 crore).

The company has signed two major agreements with Suzlon and Gamesa for the execution of the project.

“We have agreements with Suzlon to deliver 1,000 MW of turnkey assets on firm basis by March 2013 that is currently under execution, and further 2,000 MW with them on framework basis,” he said, adding the deal with Gamesa is a turbine supply agreement for 2,000 MW.

Suzlon will build and deliver complete projects, and Gamesa will supply turbines while Caparo erects the projects themselves, he explained.

Kailas informed that the Suzlon deal began execution in January of this year. “We have 1,000 MW under various stages of execution right now with 500 MW expected to be delivered by March 2012. The remaining 500 MW are to be delivered by March 2013,” he added. With the projects being executed, Caparo would become one of the few larger utility scale IPPs (independent power producers) in the country, Kailas claimed. India’s current wind power generation is around 13,000 MW.

Caparo’s business model is  to own, operate, produce and sell electricity to the grid on long term contracts.