Suzlon signs pact with ReNew for equipment supply
Alternative energy major Suzlon signed a pact with ReNew Power Ventures for supplying equipment for its 300 MW projects in India.
Wind turbine major Suzlon said it has signed a pact with ReNew Power Ventures for supplying equipment for its 300 MW projects in India.
"Suzlon Group has signed an equipment sale deal with ReNew Power Ventures Private Ltd for wind energy projects of 300 MW to be developed across India," the company said in a statement.
It, however, did not reveal financial details of the pact.Suzlon will supply, supervise, operate and maintain the projects, while ReNew Power will act as a developer, the statement said.
The company will, under the firm contract, supply 48 units of turbines to ReNew Power for a 100 MW project in Maharashtra, for which development has already commenced, it said.
The framework agreement for a further 200 MW will be converted into firm contracts based on completion of the site development by ReNew Power. "This order marks our pioneering foray into the 'Developers' mode of large scale wind power projects, notably in the areas of site development and power evacuation," Sumant
Sinha, Chairman and CEO, ReNew Power, said.
Shares of Suzlon closed at Rs 19.60, up 1.55 percent on the BSE.
Welspun's renewables arm has one of the largest operating solar portfolios in India spread across ten states