New Delhi, October 5, 2018: Sembcorp Energy India Limited (SEIL), a leading independent power producer (IPP) in India and Suzlon Group, India's largest renewable energy solutions provider, today announced the completion of the first SECI 1 wind power project in India.
The wind power project was dedicated to the nation by Honourable Minister of State (IC) for Power and New & Renewable Energy, Shri Raj Kumar Singh at the 2nd Global RE-INVEST summit.
Sembcorp Green Infra Limited, a fully owned subsidiary of SEIL, won this project in the first round of wind bids conducted by the Solar Energy Corporation of India (SECI) on behalf of the Government of India's Ministry of New and Renewable Energy (MNRE), in April 2017.
Sembcorp's 250 MW project is the first wind power project, under the first reverse wind auctions in India, with the entire capacity completed ahead of the SECI timelines. Suzlon is the Engineering, Procurement and Construction (EPC) partner for the project.
The wind project located at Chandragiri in Tamil Nadu consists of 119 units of Suzlon's 2.1 MW S111-120m Wind Turbine Generators (WTGs). Under long term Power Purchase Agreement (PPA) between Sembcorp and Power Trading Corporation (PTC), power generated from the project will be supplied to the states of Jharkhand, Bihar, Uttar Pradesh and Delhi.
Vipul Tuli, Managing Director, Sembcorp Energy India Limited, said, "The successful completion of the Chandragiri wind power project is an important milestone in Sembcorp's journey towards providing energy to support India's continued development and prosperity. It is a moment of pride for Sembcorp Energy India Limited and our EPC partner Suzlon, as we were able to deliver the entire project ahead of the SECI timelines. This project adds to Sembcorp's growing renewable energy portfolio worldwide, and strengthens our collective track record in clean energy.
Not only is this a happy day for Sembcorp, but also for the Indian energy sector. This project reflects the tremendous advances that India's wind industry has made in ensuring cost effective energy security for India, through new technology, executing massive projects on time, indigenisation, and with greater transparency. For this, I would like to thank the Ministry of New & Renewable Energy and Ministry of Power, SECI, PGCIL and other stakeholders for their unwavering support."
J.P. Chalasani, Group CEO, Suzlon Group, said, "We are pleased to have achieved yet another milestone. We partnered with Sembcorp from the pre-bid stage and delivered the full capacity ahead of the SECI timelines despite the challenges, uncertainties and initial teething issues of the new bidding regime for wind. We are glad we could live up to the trust and confidence of our customers and have successfully met the stringent due diligence and quality standards of Sembcorp. This is indeed a proud moment for us and we thank SECI, all our partners, vendors and stakeholders who have been part of this successful project execution. This is a testament of our joint commitment to "Make in India" and "Powering a Greener Tomorrow" for our nation."
Notes to the editor- Project highlights
*Calculated based on assuming a Plant Load Factor (PLF) of 35% and using the combined margin from Central Electricity Authority (CEA): Baseline Database for Indian Power Sector, version 8.
ABOUT SEMBCORP ENERGY INDIA LIMITED
Sembcorp Energy India Limited (SEIL) is a leading independent power producer (IPP) in India. Formerly known as Thermal Powertech Corporation India Limited, SEIL owns 100% of both Sembcorp Gayatri Power Limited and Sembcorp Green Infra Limited. It has a balanced portfolio of thermal and renewable energy assets totalling approx. 4.37GW capacity in operation and under construction, and is led by a strong management team with extensive experience and a successful track record of identifying, developing and operating power generation assets across the thermal and renewable power sectors in India.
Sembcorp Energy India Limited is part of the Sembcorp Industries (SCI) Group. SCI is a leading utilities, marine and urban development group with international operations, total assets of over S$22 billion and over 7,000 employees. Listed on the main board of the Singapore Exchange, SCI is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.
ABOUT SUZLON GROUP:
Suzlon Group is one of the leading renewable energy solutions provider in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and the Americas. Headquartered at Suzlon One Earth in Pune, India; the Group is comprised of Suzlon Energy Limited (NSE & BSE: SUZLON) and its subsidiaries. A vertically integrated organization, with over two decades of operational track record, the Group has a cumulative installation of ~17.9 GW of wind energy capacity, over 7,600 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. Over 11.9 GW of the Group's installations are in India, accounting to ~35% of the country's wind installations, thus making Suzlon the largest player in this sector. The Group is the custodian of over 11.9 GW of wind assets under service in India making it the second largest Operations and Maintenance Company (over 8,000 turbines) in the Indian power sector. The Group also has around 4 GW of wind assets under service outside India.
Suzlon corporate website: www.suzlon.com
Sembcorp Energy India Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the DRHP with the SEBI. The DRHP is available on the websites of SEBI, BSE, NSE at www.sebi.gov.in, www.bseindia.com, www.nseindia.com, respectively and is available on the websites of the GCBRLMs at www.axiscapital.co.in, https://www.credit-suisse.com/in/en/investment-banking/regional- presence/asia-pacific/india/ipo.html, www.india.clsa.com and www.sbicaps.com, respectively and on the website of the BRLM at www.indusind.com. All potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the DRHP including the section titled "Risk Factors" on page 16 of the DRHP and any investment decision shall be made on the basis of the Red Herring Prospectus, when available. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act, 1933 as amended (the "US Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) in the United States solely to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from the registration requirements of the U.S. Securities Act and (ii) outside the United States in offshore transactions in reliance on Regulation S of the U.S. Securities Act and the applicable laws of each jurisdictions where such offers and sales are made.
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