SMDPL to acquire projects to increase capacity to 1,000 MW

To achieve its target of having 1,000 MW capacity, wind energy producer Sitac Management and Development (SMDPL) is looking at acquiring non-operational projects across the country in the next 3-5 years with an investment of Rs 7,500 crore.
"Initially, we will jointly install 142 MW which will be split across five projects in Gujarat and expected to be commissioned by the end of next fiscal.
"Going forward, we want to enhance the capacity to 1,000 MW and for this, we may look at acquiring non-operating assets," SMDPL Chairman Malvinder Singh told PTI.
SMDPL, a 50:50 joint venture between France-based EDF Energy Nouvelles and Sitac Group, said it aims to execute a minimum of 1,000 MW across India through an investment of about Rs 7,500 crore in next 3-5 years.

Singh, however, said the company is not in a rush to acquire operating assets.
"We are not interested in funding projects but want to rely on project return and would therefore want to hold on to the assets for long term and operate them at international standards," he said.

The JV is looking at states like Rajasthan, Andhra Pradesh, Karnataka and Madhya Pradesh for setting up the projects, he added.
Individually, Sitac has a portfolio of 36 MW in Gujarat out of which 28 MW is operational, while 4 MW is pending for certain approvals regarding turbines. The company had also proposed to set up 26 MW of capacity in the state.

"In total, we have 204 MW planned in the state, which includes the 142 MW with the EDF. We want to bring the 36 MW, which is being developed with Gujarat Venture Finance (GVFL), and the proposed 26 MW under the JV. But we are working out on the modalities with the EDF for bringing these projects under the JV," he said.
At present, Sitac had also proposed to develop over 180 MW plant in Rajasthan and Maharashtra where it has some land, he said.
"We now plan to do all our future projects under the JV only," Singh added.