Suzlon, the leading Indian wind energy firm is all set to develop its renewable energy portfolio by venturing into solar power, according to Business Standard.
The company has identified four sites across Gujarat, Rajasthan, Maharashtra and Madhya Pradesh for pilot solar projects in India.
In addition, three manufacturing bases will be established at Madhya Pradesh, Andhra Pradesh and Rajasthan for the next generation two Mw turbine called S111.
This turbine has a 120 meter tower and 111 meter rotor, and will provide over 30 per cent plant load factor.
Within a year, solar power projects of 50 Mw each will be installed, commissioned and sold across various Indian states, according to Suzlon officials.
“We have to consolidate, achieve more growth and invest in technology so as to bring the cost of energy down. We do not require any acquisition, but we are now focusing on the need for solar energy,” explained, Tulsi Tanti, founder, chief executive officer, Suzlon.
“No company in the Indian market is providing end-to-end solutions in solar power. In the next financial year, we will begin offering our customers both wind and solar parks,” he added.
Suzlon plans to introduce feed-in tariff sales system similar to the case of wind energy segment where power is offered on a cost-based rate, finalized during the PPA agreement.
The company officials are of the opinion that by 2018-19 India can accomplish a 10,000 Mw target, provided matters like land and power evacuation are addressed properly, in addition to supplementing 20 years of finance.
The state and central governments and financial institutions have to jointly design a workout strategy in order to promote funding, availability of sites and grid infrastructure, observes Suzlon authorities.
Satara region in Maharashtra of India houses Suzlon’s first and oldest wind power plant of 201 Mw set up in 1999.
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The preparations for renovating the site are in progress currently by replacing old wind turbines with better and efficient ones.
After a break of two years, Suzlon’s revenue increased by 16 per cent in the first half of 2014-15 with volumes jumping by 96 per cent in the Indian market. In 2013, the company experienced a corporate debt restructuring program of $1.8 billion.
India government has directed wind power producers to increase the annual installation of wind power plants to 10,000 Mw annually.
Meanwhile, the solar power targets in the country are kept at 1 lakh Mw in five years.
Sabeena Wahid
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