KSK Power Ventur plc (“KSKPV” or “the Company”), the power project company listed on the London Stock Exchange, with interests in multiple power plants and businesses across India, issued its Interim Management Statement for the period from 1 April 2011 to 19 August 2011.
Wind based power generation at the Sai Regency site (total capacity of 18.9 MW) had total gross power generated during the last 4 [1/2] months at 17.6MU, with power sales to captive industrial customers rather than traditional sale arrangement to local utilities.
According to the statement, 52.5 MW KSK wind power project generation stood at 56 MU for the last 4 [1/2] months with power sales initially to local utility but now switching to PPA’s with industrial customers under captive supplies model.
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.
The Group has set up and holds 100% of a Singapore incorporated renewable holding company called KSK Green Energy Pte Limited, which they will use to undertake various new wind energy initiatives. This will allow the Company to look to secure the participation of other financial investors/strategic partners to take its renewable portfolio forward.