WinWinD Power, Suryachakra to invest $350 mn in TN

WinWinD Power Energy (P) Ltd has entered into an MoU with Suryachakra Green Power Private Limited to develop a 250-Mw wind park at Dharapuram near Coimbatore in Tamil Nadu. The project is estimated to cost around $350 million (Rs 1,575 crore) and is to be developed in three phases. It is expected to be completed by the third quarter of 2013.

WinWinD will supply, commission and operate 1-Mw wind turbines besides providing operational and maintenance services for ten years from the date of commissioning.

V Srinivasan, CEO of Siva Group, and chairman of the WinWinD Board, said, “We will be leveraging our integrated wind turbine manufacturing facility in Vengal near Chennai to execute this project.” WinWinD has secured the necessary land for the project and has already provided the requisite project locations to Suryachakra. During the first phase, aimed for completion by second quarter of 2012, WinWinD will be commissioning wind turbines that will harness 75 Mw power. This will help in further harnessing during the next wind season and the full capacity of 250 Mw will be achieved during the third and final phase leading to project culmination.

WinWinD will assist Suryachakra in getting clean development mechanism (CDM) benefits that are available for renewable energy and energy conservation projects. It also intends to invest in the project through its group company besides assisting its partner in raising debt for project funding.

WinWinD is part of the Finnish WinWinD Oy Group, which is a constituent of Siva Group of Chennai. Suryachakra Green is an associate of Hyderabad-based Suryachakra Power Corporation Ltd.