Fersa has concluded a financing agreement for its 2nd wind farm in India of 50.4 MW

Fersa has formally agreed "Project Finance" type financing between EN Renewable Energy Pvt. Ltd, Fersa Energías Renovables’s totally owned subsidiary and the government body Indian Renewable Energy Development Agency (IREDA), for 1.86 billion rupees (30 million euros) to finance the construction and commissioning of the Hanumanhatti wind power project in the state of Karnataka (India).

The wind farm will be fitted with 63 Enercon E-53 wind turbines, each with a rated power of 800 kW, for a total output of 50.4 MW. The construction of the Hanumanhatti wind farm will be a turnkey wind energy project in conjunction with Enercon India.

It is estimated that the farm will start generating electricity during the second half of 2010. Production is forecast at 115 GWh per year, which will avoid the emission of more than 106,000 tonnes of CO2 per year. The investment for the commissioning of this farm is expected to surpass 2.6 billion rupees (42 million euros).

Once the wind farm in Hanumanhatti is operational, Fersa will increase its presence in India from the current 31.2 MW to 81.6 MW with the Gadag wind farm in the state of Karnataka. Fersa is also planning the construction of a 50.4 MW farm in Kita in the state of Rajasthan towards the end of 2010 and a 50.4 MW wind farm in Ramdurga, planned for 2011.

With the financing of the Hanumanhatti wind farm, Fersa is on track in its strategic plan for 2010 which includes the construction of more than 240 MW between Spain, Poland, Estonia and India.