@Proactive Investors: Greenko is preparing to enter the wind energy sector in India. The Company is targeting a capacity of 200 MW by 2012.
The company specializes in clean power. Its portfolio of green energy includes hydro-electric, bio-mass, gas/liquid fuels and wind-power. It studied the wind energy market in India for two years. It is already working upon a 65 MW project in Maharashtra. After achieving the target of 200 MW capacity of wind energy, the Company will raise its green energy capacity from 611 MW to 811 MW.
The company has a 13-year Power Purchasing Agreement (PPA) with Reliance Infrastructure, Mumbai based power distributor, and it also has a technology partnership deal with GE for ‘XLE class’ wind turbines, which are particularly designed for low wind regimes in India.
As per the agreement with Reliance Infrastructure, Greenko will supply 200 MW of wind power, at INR 5.07 per KWH. The rate is subject to adjustments on first delivery in 2011 and thereafter it will be fixed.