Suryachakra Power Corporation Ltd has informed BSE that Suryachakra Green Power Pvt Ltd (‘SGPPL’), a Suryachakra Group Company has entered into MOU with Winwind Power Energy Private Ltd., (WPEPL) for setting up a wind farm with 250 MW Capacity at Dharapuram, Tamilnadu.
The following are the salient features of the MoU:
1. WPEPL will bring technology from their principal, Finland who have supplied their 1 MW wind turbines (WEGs) to many countries in the World. (Already around 80 MW of WEGs are under operation in India.)
2. WPEPL has secured the land identified with potential wind data, validate / confirm the wind energy generation projections and facilitate the transfer of the land to SGPPL.
3. WPEPL shall offer a comprehensive Operation and Maintenance (O&M) of the project for 10 years after completion of the 1 year warranty period.
4. WPEPL shall extend necessary support to SGPPL to secure Carbon Development Mechanism (CDM) benefits, Generation Based Incentive (GBI) benefits and other related benefits available.
5. WPEPL shown interest in participation of the project to the extent of 20% of equity.
WPEPL is also assisting the group in sourcing 60% of the required debt from E.U. Financial Institutions and the discussions are in advanced stage.