Indian Energy Ltd. (IEL) and Trishe Developers Pvt. agreed to develop as much as 1,000 megawatts of wind farms in stages as the South Asian nation seeks to boost its clean energy production.
Trishe will develop the projects and sell them to Indian Energy subject to “development milestones,” Indian Energy Managing Director Rupert Strachwitz said in an e-mail.
The agreement is one of the largest announced in India, behind a 2,000-megawatt deal struck by Mytrah Energy Ltd. and Gamesa Corp. Tecnologica SA (GAM)last May. India expects to add 2,400 megawatts of new wind capacity in the financial year ending in March as part of a target to have 15 percent of its electricity generated from clean sources by 2020.
The turbines will be supplied by “various” manufacturers, Strachwitz said, without giving details. Indian Energy and Trishe expect about 300 megawatts to be completed in 2013, 350 megawatts in 2014 and the remainder by 2016, Strachwitz said. The projects will be built in Tamil Nadu, Karnataka and Maharashtra states.
Infrastructure India Plc (IIP), an investment company based in the Isle of Man, bought Indian Energy in September, according to filings.
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