 "Indo Rama Renewables sells 30 MW wind farm in Maharashtra to Tata Power")
Tata Power Renewable Energy Limited (TPREL), a wholly-owned subsidiary of Tata Power, India’s largest integrated power company, has signed a share purchase agreement (SPA) to acquire Indo Rama Renewables Jath Limited (IRRJL) which owns a 30 MW wind farm in Sangli District of Maharashtra. IRRJL is a 100-percent step down subsidiary of Indo Rama Synthetics India Limited (IRSL), one of India’s largest players in the business of manufacturing polyester having an integrated manufacturing complex at Butibori, near Nagpur (Maharashtra).
Vishal Lohia, executive director, Indo Rama Synthetics, said, “Divestment from this wind asset shall enable us to have a more focused and effective approach towards managing our core business of polyester.”
IRRJL’s wind farm in Sangli, which is fully operational since July 2013, has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy. The wind farm comprises 15 numbers of 2000 KW G 97 wind turbine generators (WTGs) supplied by Gamesa India.
With this acquisition, Tata Power’s total generation capacity will increase to 9130 MW and its operational wind power generation capacity to 570 MW with wind turbines located across five states - Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka (which are the leading states in promoting wind power generation in India). TPREL also has 250 MW of wind projects under construction across Gujarat, MP and AP.
Anil Sardana, CEO & managing director, Tata Power, said, “Tata Power endeavours to generate 20-25 percent of its total generation capacity from clean energy sources and is proud to have completed this acquisition of the 30 MW operational wind farm. The project is a clean energy project, which will enhance and increase the company’s clean energy footprint. This is our third acquisition of an operating wind asset and we are in constant look out for similar opportunities in respect of wind and solar plants.”
Vishal Lohia, executive director, Indo Rama Synthetics, said, “Divestment from this wind asset shall enable us to have a more focused and effective approach towards managing our core business of polyester.”
IRRJL’s wind farm in Sangli, which is fully operational since July 2013, has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy. The wind farm comprises 15 numbers of 2000 KW G 97 wind turbine generators (WTGs) supplied by Gamesa India.
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Anil Sardana, CEO & managing director, Tata Power, said, “Tata Power endeavours to generate 20-25 percent of its total generation capacity from clean energy sources and is proud to have completed this acquisition of the 30 MW operational wind farm. The project is a clean energy project, which will enhance and increase the company’s clean energy footprint. This is our third acquisition of an operating wind asset and we are in constant look out for similar opportunities in respect of wind and solar plants.”