Indian Energy announced that it has entered in to a Framework Agreement (“Agreement”) with Trishe Developers Private Limited (“Trishe”) for the development and acquisition of up to 1000 MW of wind farms in India. The Agreement provides for Trishe to undertake the development of the projects, which Indian Energy will acquire once certain development milestones have been reached. Indian Energy and Trishe envisage that approximately 300 MW of projects will be commissioned during 2013, a further 350 by 2014 and the remaining 350 by 2016.
The projects will be implemented across a number of States in India, including Tamil Nadu, Karnataka and Maharashtra. The wind turbines will be supplied by various manufacturers, with each project utilising the most appropriate turbine technology for the site. Indian Energy will be selling the power generated to both State utilities as well as industrial customers.
Commenting on the Agreement, Rupert Strachwitz, CEO of Indian Energy said: “This is an important milestone for Indian Energy; we have now created the visibility on the growth of the Group to over 1GW of capacity and which we can achieve in a relatively short period of time. We are delighted to have partnered with Trishe, whose team have an exceptional track record in the development of wind farms in India.”
Commenting on the Agremeent, Narasimhan Ramkhumar, CEO of Trishe said: “We at Trishe are honored to be given an opportunity to serve an important customer such as Indian Energy, and to deploy our development and construction capabilities. We look forward to a long and fruitful partnership with Indian Energy.”