Suzlon to set up 100 MW wind power projects in Punjab
13 Dec 2007
Mumbai: Suzlon Gujarat Wind Park Ltd, a wholly owned subsidiary of Suzlon Energy, has signed a memorandum of understanding (MoU) with state-owned Punjab Energy Development Agency (PEDA) to set up 100 MW wind energy projects in the state.
The company would set up two wind power projects of 50 MW each, involving a total outlay of Rs500 crore, at Hoshiarpur and Muktsar districts in the state over an area of 250 acres, Atul Shah, director of Suzlon Gujarat Wind Park, said after signing the agreement.
The company is currently conducting wind resource assessment study in these areas and hopes to complete it in the next nine months, he said.
Shah said the company is looking to raise funds from global as well as domestic investors to finance the projects.
The Punjab government has proposed to generate 1,500 MW of power from renewable resources over the next five years, state's minister of science, technology and environment Bikram Singh Majithia said.
PEDA had earlier signed an MoU with Germany-based company Enecron for wind resource assessment and development of wind power projects in the state.
The minister said the government was exploiting all natural resources to garner additional capacity so that the state becomes power surplus in next four years.
He said the state government is focusing on renewable energy and expects to produce 250 MW of power through cogeneration, 325 MW through biomass generation and 25 MW by mini-hydro projects.