KSK Energy Ventures, India was started in February 2001 to exploit emerging opportunities in the Indian power sector and have since focused its strategy on the private sector power development market, undertaking entire gamut of development, investment, construction, operation and maintenance of power plants with supplies initially to heavy industrials operating in India and now branching out to cater to the needs of utilities and others in the wider Indian power sector.
Panchabuta had earlier mentioned that the company intends to procure 250 MW of wind turbines from Dongfang Electric Corporation Ltd of China. The companies were to sign a contract on December 15, 2010 in New Delhi during the visit of the Chinese Prime Minister, Mr Wen Jiaban, to India. The contract was since signed according to this report.
Earlier last month, Shanghai Electric had signed an agreement with KSK Energy of India to export 125 units of 2MW wind turbines to India.
As readers of Panchabuta might be aware, Sinovel the largest wind turbine manufacturer has also made a silent entry into India last year with a couple of wind farm installations.
According to reports, KSK Energy Ventures may raise up to Rs 1,200 crore debt to fund its wind energy projects across the country, sources close to the development said.
The company, which currently has around 71 Mw wind energy projects under operation, is mulling to set up another 250 Mw projects by the next wind season (May).
“The company is talking to various suppliers, including Chinese suppliers like Dongfang, Shanghai Electric in China and Suzlon in India, for the wind energy machinery. Each Mw typically cost Rs 5.5 crore to Rs 6.5 crore. Around Rs 1,500 crore is required for the total project on 80% debt and 20% equity basis. The company prefers to raise the debt though Dollar Denominated Debt,” a source told PTI.
The Group has incorporated a subsidiary KSK Green Energy Pte Limited in Singapore to make direct investment in new renewable power generation opportunities.
The company, however, is looking at a single supplier which will be able to supply at least 200 Mw in this fiscal.
“There are some problems with Chinese suppliers. They need to get regulatory approvals from Indian Authorities. Whoever gets the approvals first, the Company may go with them. However it is unlikely that any single supplier would fulfill the requirements. So as an alternative Suzlon is also contacted,” a sources explained adding identification of land and agreements are all in advanced stage.