With 50 MW operational capacity in wind power already in Madhya Pradesh, PEL’s portfolio of renewable energy projects has now scaled up to 288.8 MW, a company statement said.PTC Energy Ltd announced commissioning of five wind power projects with an aggregate capacity of 238.8 megawatts in Andhra Pradesh and Karnataka.
With 50 MW operational capacity in wind power already in Madhya Pradesh, PEL’s portfolio of renewable energy projects has now scaled up to 288.8 MW, a company statement said.
“The capacity commissioned is locationally spread in the southern states, with nearly 190 MW located in Andhra Pradesh and 50 MW located in Karnataka,” it said.
The projects use leading edge wind turbine technologies from reputed OEMs like Gamesa, GE, Regen and INOX. The technology used is expected to provide benefits of economies of size and scale in the fast evolving renewable energy market in India.
Speaking on the occasion, Ajit Kumar, Managing Director, PEL said, “It was a challenge given to the PEL team to execute this capacity by March 31, and the team has risen to the occasion successfully.”
Deepak Amitabh, Chairman, PEL commented: “PEL has been entrusted with a very important component of PTC Group’s business strategy – that of asset creation.”
During 2016-17, a second round of equity funding has been provided in the nature of growth capital.
“We are pleased to see the company execute projects in adherence to the timelines and achieve a scale of nearly 6 times the capacity it had at the beginning of FY2016-17,” he said.
The projects commissioned include 50 MW wind power project at Bableswar, Vijayapura district in Karnataka and a similar capacity at Molagavalli in Kurnool district of Andhra Pradesh.
Also in Andhra Pradesh, 49.3 MW wind power project was commissioned at Kandimalayapalli in Kadapa district, 49.5 MW project at Devenkonda in Kurnool district and 40 MW at Payalkuntla in Kadapa district.
PEL has already entered into long-term (25 years) power purchase agreements (PPAs) for all of the five projects with respective state distribution companies, the statement said.