According to reports, Indian units of Spanish wind turbine maker Gamesa and London, AIM-listed Caparo Energy will announce a “strategic partnership in the wind energy space” at 0930 GMT on Tuesday, the firms said in a media invitation on Monday.
Caparo Energy, a Guernsey company that is the holding company for subsidiaries (together, the “Group”) that seek to generate wind power in India.
The Group intends, in due course, to acquire and develop a portfolio of wind farms with a target total annual installed capacity of up to 5,000 MW, which it intends to develop in two concurrent phases: Phase I consisting of 3,000 MW with a target completion date of 2016; and Phase II consisting of 2,000 MW with a target completion date of 2017.
For Phase I, the Company, through its subsidiary Caparo Energy (India) Limited (“Caparo Energy India”), has entered into a business partnership agreement with Suzlon Energy Limited (“Suzlon”), one of the world’s leading wind turbine generator manufacturers, to acquire up to 3,000 MW of wind power generation farms.
For Phase II, Caparo Energy India is in advanced discussions to acquire land and turbines from international vendors in connection with wind power farm development in wind-rich states in India, including Karnataka, Maharashtra, Tamil Nadu and Andhra Pradesh.
Sources have told Panchabuta that the announcement is likely to be the signing of a memorandum of understanding (MoU) for 1000MW of wind farm development by Gamesa and could possibly also include a first order for 100MW.
Gamesa is one of the more expensive turbines in India as most of their components are still imported and hence more expensive. The choice of Gamesa in this case has been more technical and the maximum megawatt of installation potential in the said land under consideration has favored Gamesa turbines over other multi megawatt turbines, sources add.