In a matter of a decade, renewable energy has grown from a fringe sector to a mainstream one. The growth in the renewable energy space has been marked by the entry of a large number of players comprising project developers, engineering, procurement and construction (EPC) contractors, and manufacturers. The player mix is diverse, ranging from pure-play investors and large power sector players to dedicated renewable energy companies, small start-ups and cross-sectoral firms, all competing to leverage the opportunities in this space.
A look at the key developments related to developers, manufacturers and EPC companies active in renewable energy project development during the past year…
- Formed in 2003, ACME Cleantech Solutions has considerably expanded its presence in the solar power segment through ACME Solar, with a total portfolio of 1.6 GW and plans to reach 7.5 GW by 2019. Nearly 1 GW is expected to be commissioned by March 2017.
- During 2015-16, ACME Solar bid for multiple projects and won a significant amount of capacity. In April 2016, the company secured 100 MW under NTPC’s tender for the 2,000 MW Pavagada Solar Park in Karnataka, as part of the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II Batch II Tranche I.
- In May 2016, ACME Solar won 150 MW of the 400 MW tendered by the Solar Energy Corporation of India (SECI) in the Anantapur Solar Park, Andhra Pradesh. In the same month, it won 50 MW of the 350 MW capacity tendered by NTPC in the non-solar park open category in Telangana. In addition, ACME Solar secured 160 MW under JNNSM Phase II Batch III as part of the 960 MW tendered by SECI in July 2016. In September 2016, the company partnered with Tata Power Solar to procure 20 MW of solar modules for a project in Rajasthan.
- ACME Solar has been in talks with IDFC Alternatives to invest Rs 6 billion in the company. The former will sell about 275 MW of its operational solar assets to the investor. The company has also been in discussions to get an investment of Rs 8 billion from Piramal Enterprises Limited. Meanwhile, ACME Solar’s partner companies, EDF Energies Nouvelles and EREN, have been planning to divest from the joint venture (JV).
- Adani Power, a part of the Adani Group, commissioned its first power plant at Mundra port in 2006. Involved in conventional and renewable power generation, the company has a total installed capacity of 10.48 GW and targets to scale it up to 20 GW by 2020.
- In September 2016, Adani Power commissioned a 648 MW solar power plant at Kamuthi in Ramanathapuram, Tamil Nadu. Built at an investment of Rs 45.5 billion, it is reportedly the world’s largest solar power plant at a single location. It has been connected to the 400 kV substation of the Tamil Nadu Transmission Corporation.
- Adani Power’s subsidiary, Prayatna Developers, secured 50 MW as a part of a 150 MW tender floated by NTPC in January 2016. The company also won 50 MW of the 100 MW tendered by NTPC in Uttar Pradesh in February 2016. Further, it won 100 MW in a tender launched by NTPC for the 2,000 MW Pavagada Solar Park in April. Adani Green Energy Limited, another subsidiary of the Adani Group, awarded contracts to Inox Wind for the installation of 70 MW of wind turbines – 50 MW in Anantapur, Andhra Pradesh; and 20 MW in Lahori, Madhya Pradesh.
- The Adani Group received approval from the Gujarat government in May 2016 to set up a solar plant equipment facility, with a total planned capacity to manufacture 10,000 MW worth of solar panels at an estimated cost of $2 billion. The plant will be set up in three phases. The first phase is scheduled to be commissioned by end-2016 and includes the setting up of a 1,200 MW solar cell and module plant. The plant will be expanded to 3,000 MW in the second phase and to 10,000 MW in the third phase.
- A $41 billion conglomerate, the Aditya Birla Group entered the solar power market in India in partnership with the Abraaj Group in 2014-15. The latter bought a 49 per cent stake in Aditya Birla Renewables Limited, a wholly owned subsidiary of Aditya Birla Nuvo Limited.
- In December 2015, the company won the entire 150 MW of solar capacity that was auctioned by Haryana for a project that will be set up in Rajasthan. In March 2016, the Aditya Birla Group won 40 MW in a 1,200 MW solar tender relea-sed by Karnataka Renewable Energy Development Limited (KREDL).
- With 35 MW of operational and under construction capacity, Amplus Energy Solutions is one of the few companies in India dedicated to rooftop solar. The company is backed by equity from I Squared Capital and develops rooftop projects for clients on a build-own-operate-transfer (BOOT) basis. It also provides end-to-end solar rooftop solar-power-as-a-service solution.
- In January 2016, Yamaha partnered with Amplus to develop a 4 MW rooftop project at its Surajpur facility, initially on the roof of the building and subsequently on the roof of the parking lots.
- In July 2016, the company expanded inorganically after acquiring the 7 MW rooftop portfolio of the exiting solar major SunEdison, in India. This is a part of Amplus’s plan to expand its rooftop solar portfolio in India to 150-200 MW over the next two years.
- In October 2016, the company partnered with Walmart and pledged an investment of Rs 0.9 billion to develop 15 rooftop solar projects for its various outlets in India. After having commissioned 287 kW for Walmart’s retail space in Agra, it will now develop projects in Punjab, Uttar Pradesh, Madhya Pradesh, Rajasthan and Andhra Pradesh. The company signed an agreement with India Exposition Mart Limited to develop a 2 MW rooftop solar project at an investment of Rs 1.2 billion.
- Axis Energy is an independent power producer (IPP) focused on power generation through renewable energy sources. The group has eight companies dedicated to the development of its various projects across the country.
- The company signed an MoU in December 2015 with the Andhra Pradesh government for developing 4,000 MW of solar projects in the state. Axis Energy has also committed to set up a 1,000 MW wind turbine manufacturing facility along with Suzlon.
- In September 2016, New and Renewable Energy Development Corporation of Andhra Pradesh Limited sanctioned 18 Axis Energy projects with a total capacity of 3,274.6 MW. These projects will be developed in the Anantapur and Kurnool districts of the state.
- Established in 2007, Azure Power operates exclusively in the solar market with large-scale and rooftop projects developed and commissioned throughout the country. The company has a portfolio of over 1 GW, comprising operational and under-development solar assets, as well as 500 rooftop projects. In January 2016, Azure Power launched its initial public offering (IPO), backed by the International Finance Corporation (IFC), Helion Venture Partners, and German development finance institution DEG. The company was listed on the New York Stock Exchange.
- In December 2015, the company signed an agreement with the Punjab government for setting up a 150 MW solar power plant under Phase III of its solar policy. With this, Azure Power’s total portfolio in the state has reached 225 MW, with projects at various stages of development.
- Azure Power won 100 MW of the 150 MW capacity auctioned by NTPC in January 2016 to be developed in the Gani-Sakunala Solar Park in Kurnool. The company also won 50 MW in another auction by NTPC in February 2016 under the non-solar park category in Uttar Pradesh. Of the 400 MW tendered by SECI in May 2016, Azure Power made the winning bid to procure the right to develop 100 MW capacity. In the same month, it won another 100 MW of the 350 MW tendered by NTPC.
- The company commissioned four solar power projects with a cumulative capacity of 88 MW across three states. These were a 50 MW project in Andhra Pradesh, two projects with a combined capacity of 28 MW in Punjab and a 10 MW project in Karnataka. In August 2016, the company launched a 10 MW solar power project in Mohali, Punjab, and tied up with DLF to develop rooftop projects for its buildings in Gurgaon.
- Meanwhile, the company is reportedly planning to sell a minority stake to raise Rs 5 billion to fund its projects and expand its generation capacity. The company has also tied up with the Overseas Private Investment Corporation for a low-cost debt financing facility of $20 million for 15 years to develop 19 MW of solar capacity.
- The state-owned heavy electricals manufacturer, Bharat Heavy Electricals Limited (BHEL) which was set up in 1964, offers research and development (R&D) capabilities as well as EPC services for solar photovoltaic (PV) plants. In addition, it has manufacturing facilities for space-grade solar panels, space-grade batteries and solar cells and modules, as well as a 500 kVA power control unit for solar PV plants.
- In April 2016, the company won a Rs 2.82 billion EPC order from NTPC to develop a 50 MW solar power plant at Mandsaur in Madhya Pradesh, scheduled for completion in early 2017.
- During the year, BHEL received EPC orders of 80 MW. It also secured an EPC order from West Bengal State Electricity Distribution Corporation Limited for a 30 MW solar power plant. Three plants of 10 MW each will be set up in Mejia (Bankura), Santaldih (Purulia) and Chharrah (Purulia) in the state at an estimated cost of Rs 1.69 billion.
- BHEL commissioned Andhra Pradesh’s first season-wise tiltable canal-top solar PV plant with 1 MW of installed capacity. The company also signed an MoU with NHPC to undertake hydropower projects in the overseas market, wherein BHEL will execute the electromechanical package and works related to it.
- Founded in 1984, the Chint Group is one of China’s largest conglomerates with assets of more than $5 billion. Astronergy, Chint’s manufacturing arm founded in 2006, has a solar cell and module manufacturing capacity of 1.3 GW.
- In December 2015, Chint announced its plans to invest $2 million in the Indian solar market to develop projects and set up manufacturing facilities by 2022. Further, it will invest $3 million to develop 2 GW of solar projects along with the China-based Sany Group. Chint will be a part of a $5 million Chinese investment in the Indian solar sector by 2022.
- CLP India, a wholly owned subsidiary of CLP Holdings Limited listed on the Hong Kong Stock Exchange, entered the Indian market in 2002 with the acquisition of Gujarat Paguthan Energy Corporation Private Limited. It today has a diversified generation portfolio of nearly 3.04 GW.
- About a third of the company’s total portfolio comprises renewable energy projects with an operational and committed capacity of 1.1 GW across the wind and solar segments. This is aside from a 655 MW gas-fired plant in Gujarat and a 1,320 MW supercritical coal-fired project in Haryana.
- In June 2016, CLP India signed an agreement with Suzlon Energy to buy a stake in a 100 MW solar park in Telangana. As per the power purchase agreement (PPA) norms, CLP India has a 49 per cent stake in SE Solar, the special purpose vehicle (SPV) set up by Suzlon for the project. A year from commissioning, the company can become the majority stakeholder and even buy Suzlon out entirely. However, Suzlon will remain involved in the EPC works of the project until the expected commissioning in May 2017. The project has been funded by 80 per cent debt and 20 per cent equity, and the PPA has been signed with the Telangana Southern Power Distribution Company for 25 years.
- The Essel Group ventured into the infrastructure development sector in 2007 with the formation of Essel Infraprojects Limited. The group is involved in areas such as media, technology, entertainment, packaging and education, while Essel Infraprojects operates in segments like transportation, power transmission and distribution, urban infrastructure, environment and renewable energy. Essel Infraprojects works in the Indian solar market through its solar arm, Essel Green Energy.
- In March 2016, Essel Green Energy won a bid for 65 MW of solar capacity as part of the 1,200 MW solar tender released by Karnataka Renewable Energy Development Limited. In September 2016, the company was awarded 240 MW of solar PV capacity for development by SECI in Odisha.
- In April 2016, Piramal Enterprises and Holland-based pension fund manager APG Asset Management decided to invest $132 million in Essel Green Energy to expand its solar portfolio in India to 1,000 MW over the next two to three years. It currently has a total capacity of 160 MW, of which 50 MW is under construction and 110 MW is operational.
- First Solar is a global company, which specialises in solar PV installations and has more than 13.5 GW of installed capacity worldwide. It has been present in India since 2011, supplying Cadmium-Telluride (CdTe) thin-film solar modules to developers. It has achieved a shipment of 1 GW of solar modules to India and has 200 MW of projects under development as well as operational projects with contracted long-term PPAs.
- Commissioned in March 2016, First Solar’s Hindupur Solar Park has a total installed capacity of 40 MW and is located in Anantapur district, Andhra Pradesh. It will supply power to the grid for a period of 20 years. The EPC for the project was undertaken by Sterling and Wilson.
- In another development, the company connected 130 MW of solar capacity to the national grid. While 80 MW of this was through a project in Andhra Pradesh, the rest was through a project in Telangana. The total capacity involves the deployment of more than 1.4 million solar modules. The power generated will be purchased by the Southern Power Distribution Company of Andhra Pradesh and Telangana State Southern Power Distribution Company Limited under a 25-year PPA.
- Finnish energy company Fortum operates in the Indian solar market through Fortum Finnsurya Energy. The company entered the Indian market in 2013 with the acquisition of a 5 MW solar power plant in Bhilwara, Rajasthan. Following this, it added a 10 MW greenfield solar plant in Kapeli, Madhya Pradesh. Fortum is looking to invest Euro 200 million-Euro 400 million in the country over the next few years.
- Looking to expand its solar portfolio in India, Fortum has participated in solar capacity auctions in the country. In March 2016, the company emerged as the lowest bidder for NTPC’s 420 MW tender for developing projects in the Bhadla Solar Park in Rajasthan. It won the rights to develop 70 MW of the total tendered capacity.
- In another development, the company won 100 MW of the 500 MW grid-connected solar PV projects under JNNSM Phase II Batch II Tranche I tendered by NTPC in the Pavagada Solar Park.
Gamesa Wind Turbines Private Limited
- Spanish wind turbine manufacturer Gamesa started its Indian operations in 2009 through Gamesa Wind Turbines Private Limited. The company’s current wind portfolio stands at 3,000 MW. In July 2015, Gamesa made a foray into the Indian solar space with a 10 MW supply order. It added nearly 1,003.7 MW of wind capacity in 2015-16.
- In December 2015, the company won an order from Atria Power to set up a 50 MW wind power project at Kayathar in Tamil Nadu on a turnkey basis. Gamesa will install and commission 25 units of its G97 wind turbine generators (WTGs) with 2 MW of rated capacity each. In the same month, Gamesa entered into a twin agreement with Ostro Energy for the turnkey supply and EPC of 200 MW of projects, 100 MW each in Madhya Pradesh and Andhra Pradesh.
- The company commissioned its first solar project with 9 MW of installed capacity in Madurai, Tamil Nadu. In January 2016, Gamesa signed a contract with Tata Power to construct a 100 MW wind farm in Nimbagallu, Andhra Pradesh, on a turnkey basis, which is to be commissioned by May 2017. In February 2016, Gamesa received a contract from New Enviro Ventures to develop a 23 MW solar power plant in Telangana. In the same month, it secured a contract from PTC Energy Limited to develop a 30 MW wind power project in Jaora, Madhya Pradesh.
- In March 2016, Gamesa secured orders worth 184 MW of capacity. Of this, 100 MW is to be installed in Andhra Pradesh and 84 MW in Karnataka. The company also received orders to develop 20 MW of solar projects in Hambantota, Sri Lanka. In May 2016, Gamesa received orders for supplying 198 MW of wind capacity to Karnataka and Rajasthan. While it will supply 50 units of its 2 MW wind turbines to Karnataka, it will provide 12 units of the same for a 24 MW project in Rajasthan. The other contracts are turnkey projects of 50 MW and 25 MW in Rajasthan. Gamesa also entered into an agreement with ReNew Power for a 40 MW turnkey project to install 20 of its 2 MW wind turbines.
- In June 2016, the company built its second blade factory in Nellore, Andhra Pradesh, with a capacity to manufacture 500 MW of blades per year, configured to produce the G114-2.0 MW Class S model.
- In August 2016, Gamesa received orders for 480 MW of wind farms from seven developers. In addition, it received a repeat order from Hero Future Energies for 120 MW of capacity in Karnataka and Andhra Pradesh. It also received an order from ReNew Power under a turnkey arrangement for the installation of a total of 110 MW of wind power capacity and a 40 MW order from KCT Renewable Energy Private Limited. Further, it received a 90 MW turnkey order from Sitac Management.
- General Electric (GE) is one of the oldest companies to be present in the Indian technology space with operations in renewable energy, healthcare, infrastructure, aviation and finance. The company has a significant presence in the Indian wind energy market, and is involved in the supply of wind turbines, project services, R&D, manufacturing, and operations and maintenance. It also offers financing options to developers through GE Financial Services.
- In August 2016, GE Energy, through one of its investment vehicles, Guayama P.R. Holdings B.V., entered into an agreement with Mytrah Vayu (Tungabhadra) Private Limited (MVTPL), a 99.99 per cent subsidiary of Mytrah Energy (India) Private Limited. As part of the agreement, the former has pledged about $31 million support for MVTPL’s 200 MW wind energy project in Andhra Pradesh.
- In September 2016, the United States Agency for International Development (USAID) collaborated with GE Energy to provide funds for further R&D in the Indian solar industry. The latter will be given $10 million as part of the 49 projects selected by USAID’s Global Development Lab. The Partnerships for Enhanced Engagement in Research programme is providing the funds for projects that will fill gaps in scientific knowledge ranging from disaster preparedness, and maternal and child health to food security.
- The Greenko Group is a project developer with a portfolio comprising wind, biomass, run-of-the-river hydro projects as well as conventional energy projects, including those based on natural gas. The company has over 1 GW of capacity under operation with a target to reach 3 GW by the year 2018. As of October 2016, Greenko had 502 MW of operational wind capacity and 402 MW at various stages of development. In addition, it operates 258 MW of hydro assets and has about 187 MW under construction at the moment and 669 MW under development.
- In April 2016, the company collaborated with Suzlon to procure and install 50 units of 2.1 MW wind turbines for its 105 MW wind project coming up in Andhra Pradesh. The project is expected to be commissioned by January 2017.
- In June 2016, Greenko Energy Holdings raised $230 million in fresh funding from the Abu Dhabi Investment Authority (ADIA). Greenko has a minority stake in Greenko Energy Holdings, while the majority stake was acquired by the Singapore government’s sovereign wealth fund, GIC, for £162.8 million in October 2015. Another $80 million is being infused into Greenko Energy Holdings by GIC along with the ADIA investment.
- In August 2016, the Greenko Group raised $500 million by selling green bonds to overseas investors, through an issue that was oversubscribed by 8.4 times. The company plans to refinance its debt, and meet its transaction and operating expenses with the funds raised, along with meeting its working capital requirements.
- In October 2016, Greenko Energy Holdings acquired the Indian assets of SunEdison at an enterprise value of $392 million with a cash payment of $42 million; the rest is assumed as project-level debt. SunEdison’s portfolio in India includes 410 MW of operational solar projects, 80 MW of wind projects and 1,000 MW of solar projects that are under development.
- Founded in 1991, the Chandigarh-based Hartek Group has quickly grown its portfolio across the energy value chain, with solutions for the power, furnace oil, solar energy and manufacturing industries. The company completed 300 MW of solar grid connectivity in 2016 as well as one of Andhra Pradesh’s largest solar projects.
- In February 2016, the company executed two projects of 24 MW and 4 MW in Muktsar, Punjab, which were awarded under Phase II of the state’s renewable energy policy. The company provided complete turnkey solutions, including post-inverter works and installation of 66/11 kV substations.
- In April 2016, Hartek Power connected a 50 MW solar power project to the grid in Anantapur district, Andhra Pradesh. It provided complete EPC services and post-inverter works for the project. In June 2016, the company marked its foray into the Chandigarh rooftop solar segment with the commissioning of a 436 kW commercial project at the Chandigarh Technology Park in Kishangarh.
- In July 2016, the company won substation orders for 330 MW of projects in Punjab, Bihar, Karnataka, Uttar Pradesh, Madhya Pradesh and Maharashtra. Hartek will provide complete turnkey solutions for these projects, which include 10 substation projects of up to 132 kV. As of October 2016, the company had won 460 MW of solar projects for EPC works, with 130 MW being added between July and October 2016.
- The Hero Group entered the Indian renewable energy market with Hero Future Energies (HFE) in 2013. The company has over 1,000 MW of wind projects in the pipeline along with 500 MW of solar projects. At present, the company’s total installed capacity stands at 360 MW, 200 MW of wind projects under construction and another 250 MW under development. In the solar segment, 300 MW of projects are under construction and over 200 MW are under development.
- In November 2015, the company signed an agreement with Suzlon for the supply and installation of 31.5 MW of WTGs for its project in Telangana. Suzlon provided 15 units of its 2.1 MW turbines for the project. During the same month, HFE collaborated with Gamesa for the supply of 50 units of its 2 MW wind turbines at Dhar, Madhya Pradesh. In addition, the company awarded a contract to ReGen Powertech for the supply and installation of 150 MW of wind turbines for its project in Andhra Pradesh.
- In February 2016, HFE raised $3 billion through the sale of climate bonds. Climate bonds are green bonds that require mandatory third-party verification regarding the climate benefit of the investment. In April 2016, the company initiated talks with UK-based CDC Group and IFC to raise $150 million by offering 25-30 per cent stake in the company.
- In March 2016, the company won 180 MW of solar projects as a part of the tender released by KREDL. In July 2016, the company won 200 MW of capacity through SECI’s auction of 920 MW of solar projects in Karnataka under JNNSM Phase II Batch III. In the same month, the company signed a PPA with Kochi Metro Rail Limited (KMRL) for a 4 MW solar power project that will involve the installation of rooftop solar panels at 22 metro stations and buildings in the metro yard. In August 2016, HFE and Gamesa collaborated to set up 120 MW of wind energy projects in Andhra Pradesh and Karnataka with the latter supplying and installing 60 units of its 2 MW wind turbines.
- In September 2016, HFE secured a contract to install 200 kW of rooftop solar panels on eight stations under the Jaipur Metro Rail Corporation on a build-own-operate basis. In the same month, IFC expressed its intention to invest $125 million in the company.
- Hindustan Cleanenergy, established in 2008, is a wholly owned subsidiary of Hindustan Power Projects, backed by US private equity (PE) firm Blackstone. The company is engaged in renewable as well as conventional power generation with over 5,000 MW of capacity expected to be commissioned by 2017. Hindustan Cleanenergy has over 600 MW of installed solar capacity and another 2 GW is expected to be installed by 2017.
- In April 2016, the company commissioned a 30 MW grid-connected solar farm in Mansa, Punjab. The project entailed an investment of Rs 2 billion and is expected to power 24,000 homes in the city. It will feed 50 MUs of energy into the 66 kV grid. The company has signed a PPA with Punjab State Power Corporation Limited for the sale of power.
- Founded in 1982, IBC Solar is a German company that specialises in solar energy technology. It released its own solar modules in 1998 and has a cumulative global installed capacity of 3 GW as of 2016. IBC Solar has subsidiaries in 10 countries, including India. Established in 2008, its Indian subsidiary focuses on the EPC of large-scale projects and the development of off-grid solutions for independent power supply.
- In September 2016, the company won 20 MW of solar capacity as a part of the 270 MW tendered by SECI for development in Odisha. In the same month, the company signed a contract with the L.N. Bangur Group for the installation of 22.5 MW of solar power projects in Phalodi, Rajasthan. The company will undertake supervision as well as EPC services for the project, which is expected to be commissioned by April 2017.
- IL&FS’s energy arm, IL&FS Energy Development Company Limited was set up in 2008 with the aim of developing, owning and operating power generation assets within the country and overseas across all energy sources including coal, renewables and natural gas. The company has 1,000 MW of installed capacity, 3,000 MW at various stages of development and 10,000 MW in the project development phase.
- In March 2016, the company entered into a JV with Japan-based Orix to develop 2,000 MW of solar power projects in India. Orix has invested 49 per cent equity in IL&FS’s wind energy business.
- In June 2016, IL&FS Energy Development Company Limited initiated the process of listing its wind power assets as an infrastructure investment trust. Through this move, the firm is expecting to raise Rs 20 billion and use the funds to develop projects and infuse capital in the company.
Indo Rama Renewables Limited
- Indo Rama Renewables Limited, a 100 per cent subsidiary of Indo Rama Synthetics (India) Limited, was incorporated in 2012.
- In September 2012, the company entered into a Rs 2.25 billion contract with Gamesa Wind Turbines Private Limited to set up a 30 MW wind power project in Sangli, Maharashtra. Operationalised in July 2013, the 30 MW wind power plant has a long-term PPA with Maharashtra State Electricity Distribution Company Limited and is registered under the Ministry of New and Renewable Energy’s (MNRE’s) generation-based incentive scheme.
- In May 2016, Tata Power Renewable Energy Limited (TPREL) acquired Indo Rama Renewables Jath Limited following the signing of a share purchase agreement with Indo Rama Synthetics (India) Limited in March 2016.
- Solar PV cell manufacturer IndoSolar Limited commenced operations in July 2009 and went public with the launch of its IPO in September 2010. The company’s manufacturing facility, located in Greater Noida, is spread across 300,000 square feet and has a solar cell production capacity of 450 MWp.
- In 2011, the company partnered with Germany-based Schmid GmbH for providing machinery and technology for IndoSolar’s production capacity expansion. The company has continuously incurred net losses in the past few quarters. Its stand-alone net loss increased to Rs 398.71 million in the first quarter of 2016-17. However, the company’s revenue increased to Rs 938.47 million in the second quarter of 2016-17, as against Rs 511.8 million in the second quarter of 2015-16.
- Valued at $2 billion, the Inox Group entered the wind energy sector in 2006. The company has two subsidiaries operating in the segment, Inox Wind and Inox Renewables.
- Inox Wind is a manufacturer of key components of wind turbines. It has two manufacturing plants in Ahmedabad, Gujarat, for tubular towers and blades, and in Una, Himachal Pradesh, for hubs and nacelles. It also has an integrated manufacturing unit at Barwani, Madhya Pradesh.
- Inox Renewables Limited has an installed capacity of over 259 MW across four states as of March 31, 2016.
- In the past year, Inox Wind won orders for projects of over 800 MW capacity and commissioned projects aggregating 190 MW.
- The company commissioned a blade manufacturing facility in Barwani, Madhya Pradesh, doubling its total manufacturing capacity to 1,600 MW in November 2015. This facility is an integrated factory and will produce all the major equipment used in wind turbines. In October 2015, it commissioned a 220 kV substation at Rojmal, Gujarat, to support the evacuation of 400 MW of power.
- Inox Wind Infrastructure Services Limited, a wholly owned subsidiary of Inox Wind Limited, acquired 100 per cent stake in Sarayu Wind Power Private Limited and Vinirrmaa Energy Generation Private Limited, in March and January 2016 respectively. Following the acquisitions, the companies have become step-down subsidiaries of Inox Wind.
- Power solutions company Jakson Engineers Limited (JEL) entered the solar segment in 2011. The company is an EPC contractor, an IPP and a manufacturer of solar products such as PV modules and inverters. It has so far executed 120 MW and 1.33 MW of land-based and rooftop projects respectively.
- The company is targeting revenues of Rs 10 billion from its solar business during 2016-17. Further, it plans to expand its IPP portfolio from 60 MW at present to 200 MW in 2017-18.
- In November 2015, the company received a contract worth Rs 600 million from the Visakhapatnam Port Trust for commissioning a 10 MW solar power project and undertaking its O&M for seven years. It also installed a 4 MWp grid-connected solar PV plant at Bharat Petroleum Corporation Limited’s Bina refinery.
- In July 2016, the company commissioned a demonstration project, which entailed the installation of solar PV systems on six coaches of a train of North Western Railway, Jodhpur. JEL installed 12 solar panels of 300 Wp capacity each on every coach. If successful, the project will be set up on 44 trains.
Lanco Solar Private Limited
- Lanco Solar is a 100 per cent subsidiary of Lanco Infratech Limited. The company operates across the solar energy value chain including products and systems manufacturing, and services such as project development, EPC and O&M. The company has commissioned more than 100 MWp of solar farms globally.
- In November 2015, the company signed an MoU with the Chhattisgarh government to set up a 100 MW solar cell manufacturing plant in the state.
- In August 2016, Lanco Infratech’s board approved the sale of its solar power undertaking comprising 35 MW, to its wholly-owned subsidiary Lanco Property Management Company Private Limited.
- Larsen & Toubro (L&T) operates in the solar segment through its solar EPC company, L&T Construction. It operates in the grid-connected PV, concentrating solar power, microgrids and mega rooftop segments.
- In May 2016, the company, along with Tata Power Solar, commissioned an 11.5 MW solar rooftop power project at Beas near Amritsar, Punjab. The project entails an investment of Rs 1.39 billion and is reportedly the world’s largest single rooftop plant.
LM Wind Power
- Denmark-based LM Wind Power is one of the world’s largest suppliers of rotor blades for wind turbines. The company has 13 manufacturing units across four continents. In India, the company has two manufacturing units located in Dabapet, Karnataka, and Vadodara, Gujarat. The Vadodara unit was commissioned in May 2016 at an investment of Euro 25 million.
- During 2015, the company made a profit for the first time since 2009. After progressive improvements in the past few years, it reported a profit of nearly Euro 6 million in 2015, as compared to a loss of around Euro 9 million in 2014.
- In June 2016, Spain-based Adwen and LM Wind Power produced the longest blade of 88.4 metres designed specifically for Adwen’s AD 8-180 wind turbine model with 8 MW of capacity and a 180-metre rotor diameter.
- In October 2016, LM Wind Power announced that Doughty Hanson & Co, a London-based PE firm, would sell its stake in the former to GE for an enterprise value of Euro 1.5 million. The transaction is expected to be completed in the first half of 2017, subject to regulatory approvals.
- Mahindra Susten Private Limited is a portfolio company of Mahindra Partners and has over 1 GW of solar projects at various stages of execution.
- The company started its operations in 2011 by offering turnkey EPC services for solar projects. Its portfolio now includes utility-scale solar, rooftop solar, solar-DG hybrid solutions, solar products, solar car charging stations, solar PV O&M and analytics, engineering services, energy management services and industrial construction solutions.
- In November 2016, Mahindra Susten awarded a contract to Hanwha Q1 for the supply of 141 MW PV modules.
- In July 2016, Mahindra Susten won 40 MW of capacity at a tariff of Rs 4.43 per kWh and a viability gap funding (VGF) of Rs 7.77 million per MW as part of SECI’s 160 MW tender for the Charanka Solar Park in Gujarat. The tendered capacity was a part of the JNNSM Phase II Batch IV.
- Listed on the London Stock Exchange’s AIM in 2010, Mytrah Energy Limited (MEL) operates as an IPP in both the solar and wind energy segments. The company currently has 1,000 MW of operational wind capacity and another 3,000 MW is in the pipeline. On the solar front, the company has signed PPAs for 422 MW of capacity in Telangana, Punjab and Karnataka, and has begun construction works at a few sites in Telangana.
- In April 2016, the Asian Development Bank approved a direct loan facility of up to $175 million for MEL to help fund the development of its new wind and solar projects. In addition, the company is reportedly looking to sell stake to PE funds with a target of raising around $300 million.
- In August 2016, GE Energy Financial Services agreed to invest up to $31 million in Mytrah Vayu Private Limited, a 99.99 per cent subsidiary of MEL, to support the development of a 200 MW wind energy project in Andhra Pradesh.
- NTPC, the country’s leading power sector PSU, operates in the solar power segment through two modes – as an equity investor, wherein it invites EPC contracts for projects, and as the nodal entity for awarding projects to developers under the National Solar Mission (NSM).
- So far, NTPC has commissioned 360 MW of solar PV projects – 50 MW in Madhya Pradesh, 250 MW in Andhra Pradesh, 30 MW in Uttar Pradesh, 10 MW each in Telangana and Odisha, and 5 MW each in Haryana, and the Andaman & Nicobar Islands. In addition, a solar PV capacity of 560 MW is under implementation. The company plans to commission a capacity of 1,768 MW in 2017-18. It is also in discussion with various state governments for 3,632 MW of projects, which are likely to be executed post 2017-18.The company is planning to set up an 18 MW solar PV project with battery backup at Chidiyatapu, Andaman & Nicobar Islands, by February 2018.
- The MNRE has appointed NTPC as the implementing agency for the selection of developers under NSM Phase II Batch II (2014-17) for 15,000 MW of capacity, of which the company is currently implementing 3,000 MW. Further, it is in discussion with the MNRE for guidelines for Tranche II (2015-18) of the NSM, comprising 5,000 MW of capacity. The modalities for Tranche III (2016-19), comprising 7,000 MW of capacity, are yet to be worked out. In the past year, the company has issued several tenders for over 1 GW of capacity in the solar segment.
- In April 2016, the company entered the wind energy segment and invited bids from contractors to set up a 100 MW wind energy project – or two projects of 50 MW each – anywhere in India.
- NuPower operates as an IPP in the wind energy segment and has around 700 MW of wind energy assets, operational and in the pipeline, located across Tamil Nadu, Karnataka, Rajasthan, Maharashtra, Andhra Pradesh and Madhya Pradesh.
- In November 2015, the company commissioned a 30 MW wind power project in Sangli, Maharashtra. The project comprises 2.05 MW of wind turbines manufactured by the company using advanced German technology.
- The company is reportedly planning to raise $300 million in two equal tranches for developing 1 GW of capacity over the next six years. It plans to set up 500 MW of capacity in Tamil Nadu, Karnataka, Rajasthan, Maharashtra, Andhra Pradesh and Madhya Pradesh over the next three years and the remaining 500 MW in the following three years.
- Established in 2006, Orient Green Power Limited, a subsidiary of Chennai-based Shriram Group, is an IPP in the wind and biomass-based power segments. It has a total wind power capacity of 414 MW and a biomass-based generation capacity of 106 MW across Tamil Nadu, Andhra Pradesh, Gujarat, Karnataka, Telangana, Rajasthan, Maharashtra and Madhya Pradesh.
- In November 2015, the company decided to divest 26 per cent equity share in Sanjog Sugars & Eco Power Private Limited to Chandrabhan Katewa through an investment vehicle.
- The company is also planning to demerge its wind and biomass business to enable better focus and attract investor interest. The company’s shareholders have approved the demerger, following which all its biomass assets will be moved to the newly created company, Biobijlee Green Power Limited, which will be listed separately on the stock exchanges.
- Founded in 1995, Premier Solar has been operating in the solar space for over two decades. The company manufactures a wide range of products including solar PV modules, solar lanterns, solar street lighting systems, solar water pumps and solar home lighting systems.
- The company has a module manufacturing capacity of 100 MW and a solar cell manufacturing capacity of 50 MW at Dundigal near Hyderabad. In September 2016, it announced plans to expand its solar PV module manufacturing capacity by 200 MW by end-2016.
Rajasthan Electronics & Instruments Limited
- Rajasthan Electronics & Instruments Limited (REIL) is a JV between the Rajasthan State Industrial Development and Investment Corporation, and Instrumentation Limited, Kota, with 49 per cent and 51 per cent stake respectively.
- In February 2016, the Cabinet Committee on Economic Affairs approved the decision to turn REIL into an independent central PSU under the Department of Heavy Industry.
- REIL has recently received a work order of Rs 119.1 million to complete work on 70 solar tube wells in Barmer, Rajasthan, under the Mukhyamantri Solar Adharit Nalkoop Yojana.
- Established in 2011, Rays Power Infra Private Limited operates in the solar space as an EPC company. The company has a portfolio of 320 MW of commissioned projects and over 144 MW of under-execution projects. In the past year, the company and its subsidiaries have won orders for over 300 MW of capacity.
- The company, on behalf of its clients, won 80 MW of the total 170 MW capacity solar tender floated by the Uttarakhand Renewable Energy Development Agency in October 2015.
- Incorporated in 2006, ReGen Powertech is a manufacturer of wind energy converters (WECs) and offers services such as turnkey installations, wind resource assessment, project management, O&M and wind turbine testing.
- The company has a technology licence agreement with Germany-based Vensys for the manufacture and sale of the V70 and V77 models of its 1.5 MW WEC in five South Asian countries. The company has a manufacturing facility located in Tada, Andhra Pradesh, and turbine and tower manufacturing facilities in Udaipur, Rajasthan.
- The company also offers water-cooled central solar inverters and wind-solar true hybrid systems. In July 2015, it commissioned the first grid-connected wind-solar hybrid project at Vagarai, Tamil Nadu.
- In November 2015, the company received two orders worth Rs 16 billion from HFE and Sembcorp Green Infra to supply and install wind turbines of 150 MW capacity in Andhra Pradesh and 60 MW in Madhya Pradesh.
- Established in 2011, ReNew Power Ventures has over 1 GW of installed wind and solar power capacity. The company has set a target to have 6.5 GW of operational solar power and 5 GW of wind power capacity over the next four to five years.
- In November 2015, the company raised $265 million of fresh equity funding from investors, led by the ADIA. In April 2016, ReNew Power Ventures signed an agreement with the US-based OPIC for a debt financing facility of up to $250 million.
- In March 2016, the company won 180 MW of the 1,200 MW solar tender released by KREDL. In May 2016, it secured 100 MW of solar projects from NTPC Limited in Telangana. The company emerged as the lowest bidder, quoting a tariff of Rs 4.66 per kWh. In the same month, ReNew Power entered into an agreement with Gamesa for a 40 MW turnkey order, to be commissioned in Karnataka’s Ron district.
- In June 2016, a JV of ReNew Power and China-based solar PV manufacturer Hareon Solar commissioned a 72 MW solar power project in Andhra Pradesh. In July 2016, ReNew Power Ventures signed a 25-year PPA with the Delhi Metro Rail Corporation, wherein the latter will buy power from plants to be set up by the company at various metro stations in Delhi. It will install 6 MW of rooftop solar plants, including 5 MW in parking lots across various metro stations.
- In August 2016, the company entered into another JV with Hareon Solar to set up 200 MW of solar projects at an estimated cost of Rs 10 billion. The project will be built by two SPVs, which will use the solar modules supplied by Hareon Solar at a cost of Rs 33.6 million per MW.
- Reliance Power, a part of the Reliance Group, has 6,000 MW of operational power projects. It is also the country’s largest private sector coal producer, with a capacity of 20 million tonnes per annum.
- As a part of its capacity expansion programme, the company is planning to set up a solar PV plant of 300-400 MW.
RRB Energy Limited
- RRB Energy Limited, incorporated in 1987, is a producer of wind electric generators (WEGs). Formerly known as Vestas RRB India Limited, the company was rechristened RRB Energy Limited in January 2008.
- The company’s manufacturing facility is situated at Poonamallee in Chennai. Around 3,000 WEGs manufactured by the company are currently operational worldwide.
- Formed in June 2015, SB Energy is a three-way clean energy JV of Bharti Enterprises Limited, the Foxconn Technology Group and SoftBank Corporation.
- In December 2015, SB Energy won bids to develop 350 MW of solar power projects at the Gani-Sakinala Solar Park in Kurnool, Andhra Pradesh. The company won the projects through a tender floated by NTPC under JNNSM Phase II Batch I Tranche I, quoting a tariff of Rs 4.63 per kWh for the entire capacity to be developed in the open category.
- In February 2016, the Madhya Pradesh government signed an MoU with Sembcorp Green Infra Limited, a subsidiary of Singapore-based Sembcorp Industries, to set up 1,000 MW of wind power capacity in the state, with an expected investment of Rs 70 billion.
- In August 2016, Sembcorp Utilities increased its stake in Sembcorp Green Infra from 67.67 per cent to 68.74 per cent for a total investment of Rs 750 million. In the same month, Sembcorp Green Infra acquired 74 per cent stake in the SPV, Mulanur Renewable Energy Private Limited, in Tamil Nadu. This has made Sembcorp Green Infra a majority stakeholder in the SPV, with the remaining 26 per cent stake held by group captive consumers. The cost of the acquisition was Rs 1,581 million and it was financed by the company’s internal funds.
- German wind turbine maker Senvion is a former subsidiary of Indian wind energy giant Suzlon Energy.
- In August 2016, Senvion acquired Kenersys India’s wind turbine production facilities and infrastructure, its complete product portfolio, wind turbine inventory and service operations. With this, Senvion forayed into the Indian market a year after it was sold by Suzlon to buyout firm Centerbridge Partners for $1.16 billion.
- In May 2016, Canada-based SkyPower awarded an EPC contract to Sterling and Wilson for executing 350 MW of solar power projects in India. These include three projects in Madhya Pradesh and four in Telangana, each of 50 MW capacity.
- In June 2016, SkyPower entered into an agreement with China-based BYD to jointly develop solar power projects in India. The two companies will submit a joint bid for the upcoming 750 MW solar power tender in India, which will also have a provision for energy storage.
- In February 2016, Solairedirect, the subsidiary of France-based ENGIE, secured two projects of 70 MW each as a part of NTPC’s 420 MW tender for developing projects at the Bhadla Solar Park in Rajasthan. The projects were won at a tariff of Rs 4.35 per kWh.
- In April 2016, Solairedirect won 75 MW of capacity at the Mirzapur Solar Park, under the 440 MW solar tender floated by SECI. The project is eligible for VGF of Rs 7.43 million. The power generated from the plant will be sold to SECI at Rs 4.43 per kWh under a long-term PPA.
Sterling and Wilson
- In November 2015, Sterling and Wilson secured an order from Singapore-based Sindicatum Renewable Energy for developing a 23 MW solar power project in the Clark Freeport Zone in the Philippines. With this order, Sterling and Wilson’s order book has grown to 101 MW.
- In May 2016, the company was awarded an EPC contract by SkyPower for executing 350 MW of solar power projects in Madhya Pradesh and Telangana. Sterling and Wilson will also undertake the O&M of these projects.
- In November 2015, Suzlon and Axis Energy signed an MoU with the Andhra Pradesh government for developing 4,000 MW of wind, solar and hybrid renewable energy projects in Nellore and Anantapur districts of the state over the next five years. In addition, the two companies will set up a 1,000 MW wind turbine manufacturing facility.
- In January 2016, Suzlon received contracts from IPPs to supply and install 197 MW of wind turbines at Anantapur. The project is expected to be commissioned by February 2017. In the same month, the company won bids to develop 210 MW of solar power plants in Telangana. In February 2016, the company received orders from the National Aluminium Company and Hindustan Petroleum Corporation Limited for setting up two wind power projects of 50.4 MW each, including their O&M for 10 years. In the same month, Suzlon received a sanction of about Rs 23 billion from its lenders for its working capital requirements.
- In March 2016, as a part of the 100 MW solar tender floated by NTPC Limited in Rajasthan, Suzlon won bids for developing 60 MW of projects at a tariff of Rs 5.07 per kWh. In the same month, the company received a turnkey contract from Gujarat Industries Power Company Limited to set up a 71.4 MW wind power project in Kutch, Gujarat. Suzlon will also provide O&M services for the project for 20 years. Also, the company received orders to set up wind power projects aggregating 81.9 MW of capacity from various developers.
- In April 2016, the company received a contract to supply and install 197.4 MW of wind turbines from Torrent Power at three sites in Kutch and Bhavnagar districts of Gujarat. In the same month, Suzlon received a contract from Indian Oil Corporation Limited to supply and install 48.3 MW of WTGs in Rajasthan with comprehensive O&M of the project for 10 years. Also, the group received a 105 MW contract from the Greenko Group to supply and install 50 units of its S97 120 metre 2,100 kW hybrid tower WTG.
- In another development, the board of Suzlon Energy Limited approved the transfer of the entire equity shareholding in Suzlon Gujarat Wind Park Limited, a wholly owned subsidiary of the company, to Suzlon Power Infrastructure Limited, another wholly owned subsidiary.
- In May 2016, Suzlon Energy acquired five solar power companies – Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited – to implement various renewable energy projects across the country.
- In July 2016, CLP India and the Suzlon Group signed a JV agreement for a 100 MW solar project at Veltoor, Telangana, wherein CLP India holds a 49 per cent stake in SE Solar, an SPV set up by Suzlon, and has the option to acquire the balance 51 per cent in the future. In August 2016, Suzlon won wind project turnkey orders aggregating 75.6 MW from various PSUs, and small and medium enterprises (SMEs). In the same month, the Suzlon Group won a 58.8 MW wind turbine order from an IPP for an upcoming project in Dewas district, Madhya Pradesh.
- In September 2016, the Suzlon Group received a 132 MW repeat turnkey order from ReNew Power Ventures Limited for a wind project to be commissioned at Elutalla and Veerbhadra in Anantapur district of Andhra Pradesh. In the same month, the company received a contract from Oil India Limited for executing two projects in Madhya Pradesh and Gujarat, with a combined capacity of 52.5 MW. In October 2016, Suzlon secured cumulative orders of 110.3 MW from corporate, and SMEs between August and September 2016.
- In January 2016, Tata Power signed a contract with Gamesa to construct a 100 MW wind farm in Nimbagallu, Andhra Pradesh, on a turnkey basis and provide long-term O&M services. The wind farm is scheduled to be commissioned by May 2017.
- In March 2016, TPREL, a wholly owned subsidiary of Tata Power, awarded an order to Inox Wind for developing a 100 MW wind power project at Rojmal, Gujarat.
- In June 2016, TPREL completed the acquisition of 100 per cent stake in Indo Rama Renewables Jath Limited, a wholly owned subsidiary of Indo Rama Renewables Limited, with a 30 MW operating wind farm in Sangli, Maharashtra. With this acquisition, TPREL’s total operating wind power capacity has reached 647 MW across six states – Madhya Pradesh, Maharashtra, Gujarat, Tamil Nadu, Karnataka and Rajasthan.
- In the same month, TPREL signed a share purchase agreement with Welspun Energy Private Limited to acquire its subsidiary, Welspun Renewables Energy Private Limited (WREPL). In September 2016, the company completed 100 per cent share purchase in WREPL, at an enterprise value of Rs 92.49 billion.
Tata Power Solar Limited
- In December 2015, Tata Power Solar commissioned a 12 MW rooftop solar plant for the RSSB Educational and Environmental Society in Amritsar, Punjab. In September 2016, the company commissioned a 100 MW solar project for NTPC Limited in Anantapur, Andhra Pradesh. The project was set up under the domestic content requirement (DCR) category. The plant has been built over a 500 acre site and is expected to generate 160 kWh of energy per year.
- In September 2016, Tata Power Solar received an order from ACME Solar to supply 20 MW of solar modules for a project in Rajasthan. ACME had won the project under the DCR category of Batch I, Phase II allocation of the NSM. The project will require Tata Power Solar to supply around 100,000 million modules.
Torrent Power Limited
- In April 2016, Torrent Power Limited awarded a turnkey contract to the Suzlon Group, wherein the latter will supply and install 197.4 MW of wind turbines. As per the order, Suzlon will install 56 units of its S97 120m hybrid tower WTGs and 38 units of its S97 90m tubular towers with a rated capacity of 2.1 MW each. The project will come up at three sites in Kutch and Bhavnagar districts of Gujarat. It will be commissioned in phases with the complete execution scheduled by March 2017.
- In June 2016, the board of Torrent Power Limited approved a draft scheme between Torrent Power and its subsidiary, Torrent Solargen, for acquiring wind and solar energy assets in Gujarat at an investment of Rs 806.3 million. The transaction involved the acquisition of an operational 51 MW solar power plant situated in Charanka, Gujarat, and a 138.8 MW wind power plant situated in Mahidad, Gujarat.
- In August 2016, China’s solar panel manufacturer Trina Solar entered into an agreement with a consortium of investors to go private through a $1.1 billion transaction. The deal is expected to close in the first quarter of 2017.
- The company is also planning to set up a cell and module manufacturing factory at Visakhapatnam in Andhra Pradesh to cater to domestic demand. An MoU has reportedly been signed with the Andhra Pradesh government for the same.
- In November 2015, Ujaas Energy won contracts worth Rs 369.8 million from the electricity department of Daman & Diu for developing 6 MW of solar power projects in the union territory. Ujaas will also be responsible for the O&M of the project for a period of five years.
- In July 2016, the company received an order worth Rs 206 million from Aligarh Muslim University to set up a 3 MW solar power plant on the university campus. The scope of work includes the design, engineering, procurement and supply, construction and installation, and testing and commissioning of the plant. Ujaas will also provide O&M services for 10 years.
Vestas Wind Technology India Private Limited
- In February 2016, Vestas Wind Systems signed a Rs 4.62 billion MoU with the Gujarat government to produce wind mill blades by setting up a manufacturing unit at Bavla near Ahmedabad. With this, the company will manufacture the country’s first locally made carbon-fibre blades. The company is planning to leverage its technological strength to gain market share in India.
- In January 2016, Vikram Solar commissioned a 2 MW grid-connected rooftop solar project at the Netaji Subhas Chandra Bose International Airport, Kolkata. The company was responsible for the project’s design, EPC, installation and commissioning. The project comprised three separate 180 kW installations at the operations building, 572.2 kW at the cargo building and 1.2 MW at the domestic building. The company will undertake O&M of the plant under a two-year contract.
- In the same month, Vikram Solar signed an MoU with Tirumala Tirupati Devasthanams (TTD), which runs several temples across south India, for developing a 10 MW solar power project at Tamballapalle in Chittoor, Andhra Pradesh. TTD had already leased out 66.67 acres of land to Vikram Solar for this project for 20 years. As per the agreement, it will generate 15.5 MUs of power per year on a build-own-operate-transfer basis.
Waaree Energies Limited
- In November 2015, Waaree Energies commissioned a 27.5 MW solar power project for Roha Dyechem Private Limited at the Bhadla Solar Power Park in Rajasthan. The project is spread over 125 acres and utilises 305 W and 310 W polycrystalline solar panels. The project was allocated to Roha Dyechem under the Rajasthan Solar Policy, 2011 (Phase I) and was commissioned in 116 days. The power generated by the plant will be supplied to Rajasthan Renewable Energy Corporation Limited under a 25-year PPA.
- In October 2016, Waaree Energies partnered with California-based 4CSolar to provide scalable solar solutions for lakes, reservoirs, canals and other offshore solar projects in India. With this partnership, Waaree Energies aims to upgrade its technology and gain access to low-cost and eco-friendly floating solar power plants in India. The products were available for demonstration and sale through SunMount Engineering Private Limited, a wholly owned subsidiary of Waaree Energies.
Wind World (India) Limited
- Since its inception in 1994, Wind World (India) Limited (WWIL), formerly known as Enercon (India) Limited, has installed over 6,204 wind energy converters with a capacity of over 4561 MW.
- WWIL has announced its plans to sell 202.4 MW of wind power projects across Andhra Pradesh, Rajasthan, Tamil Nadu and Gujarat. The company has appointed IDFC Limited to carry out the sale mandate for these projects. The projects on sale include 50.4 MW of wind projects each in Kurnool (Andhra Pradesh), Sipla (Rajasthan) and Vagaikulam (Tamil Nadu), and a 51.2 MW project at Samana (Gujarat).