October 19, 2016
Suzlon Partners with Unisun Energy for 15 MW Solar Project in Telangana
- A project of 15 MW located at the Bhainsa site, which is part of a group of 210 MW projects won through competitive bidding in Telangana
- A 25 years Power Purchase Agreement (PPA) with a Tariff of Rs. 5.51/kWh
Pune, India: Suzlon Group, one of the leading renewable energy solutions providers in the world, today announced a joint venture with the Unisun Energy Group for the development and construction of a 15 MW Solar PV Project located at Bhainsa, Adilabad District, Telangana.
According to the contract signed between Suzlon Group and the Unisun Energy Group on August 22, 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL). Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY17).
Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.
Peng Hao, CEO, Unisun Energy Group, said, India is an attractive destination for investment in renewable and solar offers immense opportunities. We are evaluating projects that will be value-enhancing for our stakeholders, whilst being attractive for our customers. We believe that India has a favourable solar policy, which creates a conducive environment for us. We have partnered with Suzlon given their reliable project execution capabilities.
J.P. Chalasani, Group CEO, Suzlon, said, The renewable energy sector has transitioned from alternate to mainstream source of energy. Solar complements our existing strengths, infrastructure and experience in wind and we will leverage the same for executing solar projects. We look forward to work collaboratively with Unisun Energy Limited and contribute towards promoting green energy.
About the Unisun Energy Group:
Headquartered in Shanghai, China, the Unisun Energy Group has subsidiaries and operations in Japan, Germany, US, India, the Netherlands, the Philippines, Romania, Hong Kong and more than 10 cities within China. The Groups main business include development, EPC, investment and operation & maintenance of solar PV power plants. The Group has grown rapidly over the past few years on the back of strong solar sector support from governments and partners around the world. The Group is led by a highly experienced and professional management team with diverse and international backgrounds, allowing it to match the appropriate local and international financial resources to the right projects to ensure rapid and efficient development.
About Suzlon Group:
The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America. With over two decades of operational track record, the Group has a cumulative installation of approximately 15.5 GW of wind energy capacity, over 8,000 employees with diverse nationalities and world-class manufacturing facilities. Suzlon is the only Indian wind energy company with a large in-house Research and Development (R&D) set-up in Germany, the Netherlands, Denmark and India. Approximately 9.50 GW of the Groups installation is in India, which makes up for ~36% of the countrys wind installations, making Suzlon the largest player in this sector. The company has recently forayed into the solar space. The Group, headquartered at Suzlon One Earth in Pune, India, is comprised of Suzlon Energy Limited and its subsidiaries. Suzlon corporate website: www.suzlon.com