SBI banking on Wind Energy with Suzlon (15 MW)

Suzlon commissioned SBI’s first wind power project of 15 MW in record time of four months. Coimbatore: State Bank of India (SBI), India’s largest commercial bank, took the lead in setting high sustainability standards and completed the first step in its ‘Green Banking’ initiative with Shri O. P. Bhatt, Chairman, SBI, inaugurating the bank’s first wind farm project in Coimbatore.

The 15 MW project, supplied by Suzlon Energy Limited, the world’s third leading and India’s largest wind turbines manufacturer, consists of 10 units of Suzlon’s S-82 1.5 MW wind turbines installed across Gujarat, Maharashtra and Tamil Nadu.

The path breaking project forms an important part of SBI’s strategy to reduce its carbon footprint and sensitize clients on the need for adopting efficient processes. The electricity generated from the wind turbines will power various SBI facilities and operations across the three states.

The project was completed by Suzlon in record time – going from concept to commissioning in just four months; covering equipment supply, construction, project commissioning, power evacuation, and comprehensive operations and maintenance services.

Speaking on the occasion, Shri Bhatt said: “Amongst the players in the Financial Services sector, State Bank has taken the initiative to be in the forefront in initiating steps for combating climate change and reducing our carbon footprint, and we propose to take the initiative forward for which this beginning has been made in acquiring Green Power, with a view to making the bank as nearly energy neutral as possible over the next five years”.

He further said, “The windmills are set up with a definite objective of reducing the dependence on the polluting thermal power and not on purely economic and business considerations.”

The project has been brought to completion in a record period of four months from the time of its conception by Suzlon Energy limited, who won in the open bid for the Project. This project directly results in reducing the carbon footprint of the bank and paves the way for others to follow.

He added, “The bank is planning to set up an additional 20 MW capacity of windmills in the state of Gujarat, once clarification about the feasibility of wheeling of power even to our LT consumption points is received from the Gujarat Energy Development Authority.”

Speaking from Coimbatore, Shri Tulsi R. Tanti, Chairman and Managing Director, Suzlon Energy Ltd, said: “This project demonstrates SBI’s far-reaching vision in recognizing the challenge of climate change, and our collective responsibility to combat it.

As an Indian company, and the world’s third largest wind power group, it gives us great pride to partner with SBI in its first ‘Green Banking’ initiative: harnessing wind to reduce its carbon footprint. We look forward to building on this success, and this project becoming a beacon for other corporates and industries.”

The project was inaugurated at a function at the wind farm site near Coimbatore by Shri O. P. Bhatt, accompanied by eminent dignitaries from SBI, including – Shri Sanjay Bhattacharya – Managing Director, Shri Sridharan – Managing Director, Shri S. Vishwanathan – Managing Director (SBI CAPS), Shri A. P. Verma – Deputy MD, Shri P.K. Khosla – Chief General Manager, Shri J. Chandrasekaran – Chief General Manager; and members of Suzlon’s senior management including Shri Tulsi R. Tanti – Chairman and Managing Director, Shri Robin Banerjee – Chief Financial Officer and Shri Ashok D’Sa -President (South Asia and Middle East).

Suzlon, the leader in the Indian wind energy stage, has maintained market leadership by capturing ~50% market share for 11 consecutive years. Suzlon offers the concept to commissioning business model to wind energy investors in India, providing a comprehensive suite of services from wind turbine supply, to EPC, lifetime operations and maintenance and other value added services covering the entire value chain.

The success of the model is seen in Suzlon’s rapid growth in India – with over 40 sites across eight states, and an installed base of around 5000 MW and a customer portfolio that captures the leaders of the Indian Industry.

Suzlon Energy Limited ranked as the world’s third leading wind turbine supplier in terms of market share in 2009. Suzlon has its corporate offices in Pune, India. The company’s global spread reflects in its projects and markets portfolio – extending across Asia, Australia, Europe and North and South America. Suzlon is a highly vertically integrated wind turbine manufacturer with manufacturing capability along the full value chain – from components to complete wind turbine systems.

Suzlon and REpower, if taken together, stand as the world’s third leading wind turbine supplier group in terms of market share. Market share of 9.8% is derived from BTM Consult ApS World Market Update 2009, ranking Suzlon with 6.4% of global market share and REpower with 3.4% of global market share.