For supply of 300 mw of wind turbines, renewable energy company Greenko has signed up with Spanish wind turbine company Gamesa. The Hyderabad-based company, listed on the Alternative Investment Market of the London Stock Exchange, is on course to add 200 mw of additional wind power generation capacity by December to its existing overall capacity of 309 mw.
The first 100 mw of turbines from Gamesa are due on site within four months. Anil Chalamalasetty, Chief Executive Officer of Greenko said that the company has recently added 62.5 mw capacity wind farms at Ratnagiri in Maharashtra, of the 100 mw planned there.
In addition, the company will be adding capacity at the Basvanbagewadi wind farm in Karnataka and Balavenkatapuram in Andhra Pradesh in time for the wind season, ahead of the monsoons. A couple of months ago, Greenko raised funding of Euro 100 million from GIC of Singapore. It has also signed up new contracts for supplies.
The Gamesa tie-up complements the existing GE turbine supply agreement. The contract is for the Gamesa G97-2.0 mw IIIA turbine, with a binding obligation for the supply of 200 mw, and an option for an additional 100 mw. The supply-and-construction contract includes a two-year warranty, five years' operations and maintenance. An initial order of 100 mw has been placed.
Another order is likely to be placed in July, for delivery before the end of the calendar year. Greeenko has 454 mw of capacity under construction. It is also implementing several hydel power plants in the country. It also expects to start the construction of approximately 200 mw of additional wind capacity this year. This new investment would enable the company to surpass its original target of 1,000 mw in 2015.
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