Greenko, a leading developer, owner and operator of clean energy projects in India, has commissioned a wind farm at Basvanbagewadi farm in Karnataka and has also started supplying power to the grid.
The project is part of phase-II expansion at the Basvanbagewadi wind farm. It has been set up with an investment of €45 million (approximately Rs. 363.42 crore) and uses Gamesa turbines.
Phase-I of the Basvanbagewadi expansion project includes 51.2 MW capacity. Along with Mangalore wind farm of 15 MW and Matrix farm of 15 MW, which have already been commissioned, this farm now has a total capacity of 131.2 MW.
With completion of the 50-MW wind farm, the company’s total generating capacity is 611 MW. It is planning to have an installed capacity of 1,000 MW by 2015.
In March this year, Greenko commissioned its 15-MW wind farm in Mangalore, the sixth wind farm commissioned this year. The wind farm is selling power directly to a commercial customer in Bengaluru via an attractive 10-year indexed power purchase agreement. The total project cost was around €13 million. The project uses the proven Vensys V87 1.5 MW gearless turbine made by ReGen, which should in an average year deliver a 28 per cent capacity factor.
As mentioned, the Mangalore wind farm is co-located with Greenko’s Basvanbagewadi (151.2 MW) and Matrix (15 MW) wind farms and shares their existing 180 MW grid connection.
“Our strategy of building large wind farms in a phased manner, using the latest low wind speed turbine technology and connecting to the high voltage transmission grid, means we can deliver significant, predictable and profitable growth,” Anil Chalamalasetty, CEO & MD, Greenko, said at the time. “Mangalore is the sixth wind farm we have commissioned this financial year and we expect to commission a further three wind farms before July’s monsoon. This should give us almost 700 MW for our 2014-15 financial year’s main generating season, a 125 per cent increase on the previous year.”
In February 2014, Greenko acquired the Budhil 70-MW run-of-river hydropower plant from Lanco Hydro. The plant is located in Chamba district of Himachal Pradesh, near Greenko’s existing assets. This would bring the company’s total operating hydropower portfolio to 245 MW and its total generating portfolio to 546 MW, a 77 per cent increase in total capacity since the start of 2013-14. The total value of the acquired assets is approximately €77 million, funded in-line with the company’s current portfolio from project finance debt and internal resources.