MUMBAI, May 7 (Reuters) – Indian turbine maker Suzlon Energy (SUZL.BO: Quote, Profile, Research) is in advanced talks with London-based Swraj Paul’s Caparo Group to build 3,000 megawatt capacity wind farms over 6 years that could bring in around $3 billion in revenues to the Indian firm, the Economic Times reported on Friday.
The power plants, most of them to be set up in India, will be developed for Caparo Energy, a joint venture of the group with Finland’s Wartsila (WRT1V.HE: Quote, Profile, Research), the newspaper said, citing an unidentified Suzlon executive.
Each megawatt of wind power could fetch Suzlon over $1 million in revenue, the paper said, adding the agreement between the two companies is likely to be finalised this month.
Suzlon was believed to have been in discussions recently with Wartsila to develop hybrid solutions to provide infirm power to the grid.
Though there has been a lot of talk of development of wind farms in India, the choices have been very limited due to lack of true energy developers in the Indian market. Most of the OE’s themselves are also developers in this context.