EDF Renewables and SITAC Group signs PPA covering 300 MW of wind project in India
Published Date | 2019 February 5
The partnership between EDF Renewables and SITAC Group for producing 300 MW of Wind project in India will provide clean power energy for 1.3 million India people which will drive Indian Wind Energy Market over forecast period.India: North America based Company EDF Renewables announced its Indian arm has signed a long-term agreement to develop 300 Megawatt (Mw) of wind project in partnership with the UK-based SITAC Group. This power purchase agreement (PPA) was the outcome of a competitive tender process launched by the Indian government under the 5th tender process of the Solar Energy Corporation of India (SECI). The award was granted in September 2018. The energy produced by the planned wind farms will be sold under a 25-year PPA to SECI. The output from this wind project will provide clean energy for the annual electricity requirements of more than 1.3 million Indian people. The development, construction, financing and asset management of the 300 Mw wind project is being undertaken by SITAC Management & Development Pvt. Ltd, the joint venture company of EDF Renewables in India and the SITAC Group dedicated to wind energy. Bruno Bensasson, EDF Executive Director for the Renewable Energy Division and Chairman and CEO of EDF Renewables said: “With about 800 MW of wind and solar gross capacity in development, construction or operation in India, EDF Renewables is delighted to participate to the government’s ambitious goals in tackling climate change,”. The construction of the wind farm will start in 2019. EDF Renewables has a gross installed renewable energy capacity of 12.7 Gw globally. Its development is mainly focused on wind and solar photovoltaic power and the company operates mainly in Europe and North America. According to Vivek Yadav, analyst at BlueWeave Consulting, Wind power is the use of air flow through wind turbines to provide the mechanical power to turn electric generators. Wind power, as an alternative to burning fossil fuels, is plentiful, renewable, widely distributed, clean, produces no greenhouse gas emissions during operation, consumes no water, and uses little land. Indian government’s major initiatives for the use of renewable energy sources including solar power, hydropower, wind power, and biomass and regulatory bodies also, to reduce carbon footprints and reduce reliance on conventional energy sources have been promoting power generation using wind turbines. A variety of factors such as environmental concern, unstable crude, and need of alternative energy source are driving the wind energy market. Moreover, wind power offers an immediate and concrete solution to many energy and climate challenges. According to BlueWeave Consulting’s upcoming report, Titled –“India Wind Energy Market, By wind energy equipment (Turbine blade, electricity generator, and tower &control equipment), By end user (industrial, household and commercial) and by Region (North ,South ,East and West), Size and Forecast, 2018-2025”- India wind energy market is expected to grow with a significant rate in forecast period, 2018-2025. Owing to Increasing need to replace conventional sources of energy with renewable energy is expected to drive the market for wind power generation over the next decade. Additionally, growing demand for renewable energy coupled with rising awareness towards environmental conservation, the regulatory framework and policy structure supporting wind power by India government led to significant development in the Indian wind power industry and has driven the leading wind power nations in their growth trajectories. Also, high and continuously fluctuating fossil fuel prices along with source limitations are encouraging India to opt for the renewable power sources, like wind.