According to reports, ReNew Wind Power, a company founded by Mr Sumant Sinha, a former Chief Operating Officer of Suzlon Energy, aims to have set up 200 MW worth of wind power capacity by the end of calendar year 2012.
ReNew Wind Power was in news last month when it announced that it had raised $ 200 million (Rs 1,000 crore) from Goldman Sachs group.
Mr Sinha told Business Line that the ReNew Wind had placed orders on Suzlon and the Chennai-based ReGen Powertech for wind power turbines, but declined to divulge how much each supplier got.
He said that the company would start commissioning projects and by the middle of next year, would have 100 MW of capacity in place.
Answering a question, ReNew Wind intends to put 25 MW under the REC scheme – which would fetch it trade-able ‘renewable energy certificates’.
The other alternative is to sell the power a distribution company at a preferential tariff agreed upon in a ‘power purchase agreement’. Noting that “PPA is good to have”, Mr Sinha said that ReNew Wind would put 25 MW under the ‘REC scheme’ to “get a hang of it”. (The 6-month-old REC regime is in its nascent stages and several renewable energy developers are waiting to see how things pan out before committing their capacities to the scheme.)
“All of us have to try and make the REC (scheme) work,” Mr Sinha said.