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India

India

Fersa clinches INR1.86billion deal for 50.4MW wind farm

SPAIN: Spanish wind developer Fersa says it has clinched an INR1.86 billion (€30million) project finance deal with the Indian Renewable Energy Development Agency (IREDA) to build its second wind development in the country.

India:the 50.4MW project will be in the southern Indian state of Karnataka
India:the 50.4MW project will be in the southern Indian state of Karnataka

The loan makes up 76.2% of the overall INR2.6billion investment in the fully licensed 50.4MW Hunumanhatti development. It is located in the southern state of Karnataka and developed by Fersa's 100% local affiliate, En Renewable Energy Pvt. Ltd.

Fersa has awarded the turnkey building contract to Enercon India, the local branch of German turbine manufacturer Enercon, which will install 63 of its own 800kW wind turbines. The developer expects commissioning to proceed "in the second half of 2010".

The new plant will bring Fersa's installed capacity in India to 81.6MW. The company already operates the 31.2MW Gadad wind plant, in Karnataka province. The developer says it also schedules to begin building, late 2010, its 50.4MW Kita development, located in the north-western state of Rajashtan. In 2011, it expects to start building the neighbouring Ramdurga, also at 54.4MW.

Fersa, based in the Catalonian capital, Barcelona, is an agglomeration of investors and mainly Catalonian banks. It currently operates 130MW, after selling some wind assets in Spain recently.

With a portfolio of 2.8GW built up over the past decade, the company claims currently to hold permits totalling 986 MW. Fersa says it expects to build or start building on over 240 MW in 2010 across India, Poland, Estonia and Spain.

 

 

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