Suzlon Energy has entered into a memorandum of understanding (MoU) with the government of Andhra Pradesh for the development of wind capacity totalling 3,000 MW in the state over the next four years (between 2012 and 2016).
This will generate potential investments of up to Rs18,000 crore, the company said in a filing with the Bombay Stock Exchange (BSE).
The MoU was signed under the auspices of the Partnership Summit 2012 in the presence of Andhra Pradesh chief minister N Kiran Kumar Reddy, the filing said.
Under the MoU, the state government will facilitate Suzlon in obtaining necessary permissions, registrations, approvals and clearances for the development of the wind farms. Suzlon, in turn, will play the role of a developer and facilitate the channelisation of investments into the state through its customers investing in wind energy.
"We are extremely pleased to sign this MoU with the Andhra Pradesh government. This not only reinforces the state's position as one of emerging markets in wind energy, but also illustrates their commitment to power a low-carbon economy by embracing progressive policies to power rapidly growing economy of the state," the filing quoted Tulsi Tanti, chairman of Suzlon, as saying.
The MoU covers development of new capacity in wind farms across the state, with development planned in the districts of Tallimadugula, Alankarayanipeta, Gandikota, Vajrakarur, Tirumalayapalli and other parts of Andhra Pradesh.