Suzlon wins order of Rs 1149 cr from Techno Electric Group

Suzlon Energy Limited (SEL), the world’s third leading and India’s largest wind turbine manufacturer, announced the signing of a new order with Kolkata based Techno Electric Group, for over 202.2 (megawatt) MW wind power projects for approximately INR 1149 crore (~USD 251 million). Techno Electric combines heavy engineering and light construction capabilities across India’s power generation, transmission and distribution segments. With a clear focus on green energy, the Group has emerged as an independent power producer (IPP) with operational wind power projects of more than 95 MW, set-up and operated by Suzlon, in the states of Tamil Nadu and Karnataka. The Group plans to scale up its wind power assets further and has signed a business agreement with Suzlon, as its preferred supplier, for development of 500 MW of new capacity. The 202 MW order is part of this agreement and is the single largest deal signed by an IPP customer in the wind power sector of India. 

The order comprises of 24 units of Suzlon’s S88 2.1 MW wind turbine generators (WTGs), 34 units of Suzlon’s S82 1.5 MW WTGs and 48 units of Suzlon’s new S95 2.1 MW WTGs.  The first phase of 101.4 MW will be commissioned in the state of Tamil Nadu by June 2011. The second phase of 100.8 MW will be commissioned by December 2011.

The wind power sector in India has matured over two decades, with a cumulative installed capacity of over 12,000 MW. The total estimated onshore wind power potential in India, as per Ministry of New and Renewable Energy (MNRE) data is over 48,000 MW. The sector is poised for accelerated growth as a result of strong policy support and positive investment outlook by the customers. Suzlon is the market leader in wind power for 12 consecutive years, with a market share of approximately 50 per cent.

Speaking on the project, Mr. P. P. Gupta, Managing Director, Techno Electric and Engineering Company Limited said, “We clearly see a great future and substantial growth opportunities for IPPs in India’s wind energy market. We are optimistic about the value creation using a combination of various revenue options, such as the attractive feed-in tariff, Generation Based Incentive, Renewable Energy Certificates and trading power under the open access system.

“We are very satisfied with the performance of our existing 95.45 MW of wind energy projects set-up and operated by Suzlon, and decided to further strengthen our association with this new order. We did a diligent evaluation of various options on the basis of life cycle value contribution to ably support our ambitious 500 MW development plan. Suzlon was the obvious choice with its proven performance, reliable technology, established end-to-end solution capabilities and great customer service. We count on the expertise of India’s leading wind power player in our endeavor to become a major wind power IPP in India.”

Mr. Tulsi R. Tanti, Chairman and Managing Director, Suzlon Energy said, “The Techno Electric Group are revered customers and we have very successful projects with them. We are honored to have the opportunity to partner with them again.

“This order stands testament to a new phase of IPP investments in wind power. The IPP segment has the capability to augment bigger wind power capacities quickly. We are fully geared to meet this segment’s specific requirements by adapting to the fast-changing market dynamics, in terms of customer needs, business model, product technology and policy framework.

“We are committed to build the backbone of the nation with installation of large scale wind power projects which shall contribute towards energy security and sustainable economic development of India.”