Suzlon, an Indian wind and renewable energy company, announced
that it will develop 45 MW of solar projects in Telangana, in partnership with
Unisun Energy (15 MW) and Canadian Solar (30 MW). The company recently won bids to develop 210 MW of solar projects in Telangana through a competitive
bidding process and signed the power purchase agreements (PPAs) in February
2016. The 210 MW includes a 100 MW project, a 50 MW project and four projects
of 15 MW each.
Marking its entry into the Indian solar market, Canadian
in partnership with Suzlon, will develop two solar projects of 15 MW each in
Ramannapet and Kamareddy, Telangana. The PPAs have been signed for a 25-year
period at a tariff of Rs.5.54
Solar will provide the solar PV modules, arrange project financing and
contribute its technology expertise. The offtaker for the Ramannapet project
will be the Telangana Southern Power Distribution Company and for Kamareddy
project it will be the Telangana Northern Power Distribution Company (TSNPDCL).
Suzlon will be responsible for project commissioning and operation and
maintenance services for a period of 25 years. Canadian Solar will acquire 49
percent stake in Avighna Solar farms and Amun Solar farms, the special purpose
vehicles (SPVs) setup by Suzlon for executing these projects.
"Canadian Solar is pleased to partner with Suzlon for
the development of 30 MW solar power projects in Telangana,” said Steve Iyer, Vice President of Operations at Canadian
Solar. “These projects mark our first
investment in the Indian solar sector and shall contribute to our global
pipeline of 2.4 GW of projects in late-stage development."
Suzlon, in partnership with Unisun Energy, will develop a 15
MW solar project in Bhainsa, Telangana. According to the contract
signed between Suzlon Group and the Unisun Energy Group, the Unisun Energy
Group will acquire a 49 percent stake in Vayudoot Solar Farms in August, through
an SPV set-up by Suzlon for executing this project.
Unisun Energy has the option to acquire the balance of the 51 percent stake in
the Vayudoot project in the future. The offtaker for the Vayudoot project will
be the TSNPDCL.
Suzlon will be responsible for project commissioning and also operation and
maintenance services for a period of 25 years. The project is expected to be
commissioned in the financial year 2017. The PPAs have been signed at a tariff
of Rs.5.51 (~$0.0825)/kWh.
According to Mercom’s India
Solar Project tracker, Suzlon currently has 510 MW solar projects under
development at an average tariff of Rs.5.36
(~$0.0803)/kWh. Apart from the 210 MW projects in Telangana, the company also has
projects under development in the states of Jharkhand (175 MW), Maharashtra (70
MW) and Rajasthan (60 MW). Out of their total project portfolio, PPAs have been
signed for 340 MW, with the projects in Jharkhand yet to sign PPA.