CLP India, after long presence in the conventional power market, has finally entered the most rapidly growing renewable energy market in India.
Suzlon Energy, one of the leading renewable energy companies in India, recently confirmed sale of 49% stake in a 100 MW solar power project to CLP India. The project is located in the southern state of Telangana and was secured by a special purpose vehicle of Suzlon Energy – SE Solar – through competitive bidding.
Suzlon Energy is likely to construct, commission, operate and maintain the power project. CLP India will have the option to fully buyout Suzlon’s stake after 1 year of project commissioning.
Suzlon Energy emerged as one of the largest successful bidder in what was India’s single largest solar power tender. State authorities in the southern Indian state of Telangana announced results of the 2 GW solar power tender in August last year, wherein Suzlon Energy secured 210 MW capacity in the competitive auction.
Apart from the 100 MW project, Suzlon Energy will also set up a project of 50 MW and 4 projects of 15 MW capacity each.
Power generated from the 100 MW project will be sold through a 25-year power purchase agreement to Telangana Southern Power Distribution Company Limited at a tariff of Rs 5.59/kWh (US¢8.4/kWh).
CLP India owns almost 2 GW of thermal power projects in India and an additional 1 GW wind energy capacity. The company has also signed an agreement with the state government of Haryana to set up 132 MW solar power project one of its thermal power projects.