Phase one of Indian Energy Ltd.'s (LON:IEL) Theni Wind Farm project has gone fully operational and is connected to the existing grid.
In December, Indian Energy signed a contract with ReGen Powertech Private Ltd for the construction of a 49.5 MW wind farm at Theni in the State of Tamil Nadu, India.
The first phase of development of the project has seen three, 1.5 megawatt (MW) turbines be erected. An additional eight, 1.5 MW wind turbines will be connected within the next five months, bringing the total capacity to 16.5 MW. The second construction phase is due to start in June 2010, bringing the total up to 49.5 MW.
Shortly, Indian Energy will enter into a 20-year power purchase agreement with the Tamil Nadu Electricity Board for the sale of the power generated at Theni, as governed by the current State Tariff Order.
The Theni Project should be eligible for the Generation Based Incentive [pdf] scheme that has recently been announced by the Government of India and, as a result, receive a further INR0.5/kWh.
Furthermore, the Theni project is also expected to qualify for the Clean Development Mechanism under the Kyoto Protocol and, as a result, both phases one and two are expected to generate approximately 120,000 Certified Emission Reductions per annum.
“The fact that these three turbines have already begun to contribute to earnings demonstrates how quickly we can deploy capital to generate returns and develop what we believe will be a long-term and sustained income stream,” said Rupert Strachwitz, chief executive of Indian Energy.
A fiction writer who has won awards for his work, Harry has recently shifted focus to society’s role in bettering the world. For him, this means a keen interest in sustainable living, which also includes renewable energy. His regular contributions to Energyboom often deal with the highly-debated biofuel industry, a topic he finds to be a continuous source of learning and controversy.
Any opinion contained in this article is solely that of the writers, and does not necessarily shapes or reflect the editorial opinions of Energy Boom.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
| Add your opinion | Rate this story | Share | Subscribe | ||||
|
|
|
 |
 |
 |
energyboom newsletter
