Indian Energy fully commissions 16.5MW Theni wind farm, substation

Source: Indian Energy Limited

Indian Energy, the independent power producer that owns and operates wind farms in India, is pleased to announce that its 16.5 MW wind farm at Theni together with the associated substation has been fully commissioned.

Regen Powertech Pvt. Limited has constructed the project under a contract signed with Indian Energy in December 2009. The project consists of 11 1.5 MW turbines, the first 3 of which were commissioned on February 3, 2010. The final 8 turbines and substation were completed on June 30, 2010.

Indian Energy has entered in to a 20 year Power Purchase Agreement (PPA) with the Tamil Nadu Electricity Board (TNEB) for the sale of the power generated from the first 3 turbines at a rate of Rs. 3.39 per kWh. The Group expects to enter into a similar PPA with the TNEB for the remaining 8 turbines shortly. The first 4.5 MW of the project have been granted approval under the Generation Base Incentive Scheme and thereby earn an additional Rs. 0.50 per kWh. The Group anticipates that the same approval for the final 12 MW will be granted shortly.

Rupert Strachwitz, CEO of Indian Energy, commented:

"We are delighted that the Theni project is now fully commissioned. By working closely with our supplier, Regen Powertech and our bankers, State Bank of India, we have succeeded in completing this project ahead of our target time frame of 9 to 12 months from signing the construction contract. I believe this clearly demonstrates the Indian Energy team's ability to not only effectively manage wind projects in India but also deliver on its business plan."

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