Currently, the per megawatt cost of installation of wind power equipment is Rs 6 crore while per unit of electricity would cost, on an average, Rs 4.50 to the customer, which is far cheaper than solar energy at Rs 8 to Rs 9 an unit (kilowatt hour), he said.
Global major Goldman Sachs had infused Rs 1,000 crore as equity in September last year into the company, which invested Rs 140 crore on the Jasdan project. The PTC India Financial Services Ltd (PFC), promoted by PTC India LTD as an investment vehicle, financed the Jasdan project in a 70:30 debt-equity ratio, he added.
The Chief Minister, Mr Narendra Modi, inaugurated the facility, which comprises 12 units of Suzlon S88 wind turbines with 2.1 MW capacity each. It is selling its output under a under long-term power purchasing agreement contract to Gujarat Urja Vikas Nigam Ltd (23.1 MW), and the remaining output to Philips India (2.1 MW).
Mr Tulsi Tanti, Chairman, Suzlon Group, the world’s fifth leading and India’s largest wind turbine manufacturer, said his company is partnering with ReNew Wind Power.
Apart from Suzlon, ReNew Power is working closely with key players such as Regen, Gamesa, Vestas and Enercon India. The Jasdan wind farm is also expected to qualify as a Clean Development Mechanism project under the Kyoto Protocol, which will add to the financial viability of the project, Mr Sinha said.
ReNew is also exploring the opportunity of diversifying into alternative energy sources such as biomass and hydroelectricity apart from solar and wind power in the coming years. Currently, India generates 3,000 MW of wind power.