“We hope to take this capacity to 650 MW by the end of this year,” CLP Power India Vice-President Renewables Mahesh Makhija said, adding that the company would pump in $800 million for the same.
CLP Power has identified locations in Gujarat, Maharashtra, Karnataka and Tamil Nadu for setting up these wind farms projects.
The wind energy projects would be funded through a debt and equity ratio of 70:30. The company is in talks with various banks and financial institutions such as HSBC, IDBI, Power Finance Corp, Asian Development Bank, Bank of Baroda and Punjab National Bank for loans.
CLP Power is in talks with various international companies too for sourcing equipment for the power projects. “We are talking with two German companies for buying equipment for 200 MW capacity,” he said.
Out of the 650 MW, wind turbines for 350 MW have been sourced from Germany-based Enercon and from Danish company Vestas for another 100 MW.