EDF Renewables & SITAC Group Sign PPA
EDF Renewables in India and its partner for wind energy in India, the SITAC Group today announce the signing of a long-term power purchase agreement covering the output of 300 MW of wind power project recently awarded by the Indian government.
This power purchase agreement (PPA) was the outcome of a competitive tender process launched by the Indian government under the 5th tender process of the Solar Energy Corporation of India (SECI). The award was granted in September 2018.
The energy produced by the planned wind farms will be sold under a 25-year PPA, to SECI a company of India’s Ministry of New and Renewable energy, dedicated to renewable energy development.
The output from this wind project will provide clean energy for the annual electricity requirements of more than 1.3 million Indian people.
The development, construction, financing and asset management of the 300 MW of wind project is being undertaken by SITAC Management & Development Pvt. Ltd., the joint venture company of EDF Renewables in India and the SITAC Group, dedicated to wind energy.
Construction of the wind farm will start in 2019.
“This new 300 MW wind project, successfully secured through our partnership with SITAC, contributes to EDF’s CAP 2030 strategy, which aims to double worldwide renewable capacity to over 50 GW net between 2015 and 2030. With about 800 MW of wind and solar gross capacity in development, construction or operation in India, EDF Renewables is delighted to participate to the Government’s ambitious goals in tackling climate change,” commented Bruno Bensasson, EDF Executive Director for the Renewable Energy Division and Chairman and CEO of EDF Renewables.
“With this award we significantly increase our foot print in the Indian renewable energy market to 600 MW of operational and awarded wind power. We are making a significant contribution to establishing a clean energy supply in India and to creating jobs and value for our employees and local partners. ” said Mr Malvinder Singh.
Mr Malvinder Singh is the founder and Chairman of the SITAC Group. As an entrepreneur, he has built successful business across India, Europe and internationally, including the wind energy business.
EDF Renewables is a leading international player in renewable energies, with gross installed capacity of 12.7 GW worldwide. Its development is mainly focused on wind and solar photovoltaic power. EDF Renewables operates mostly in Europe and North America but is continuing to grow by moving into promising emerging regions such as Brazil, China, India, South Africa and the Middle East. The company has strong positions in offshore wind power, but also in other areas of the renewable energies industry such as energy storage. EDF Renewables develops, builds, operates and maintains renewable energies projects, both for itself and for third parties. EDF Renewables is the EDF Group subsidiary specialising in developing solar and wind power.
The SITAC Group was founded in 1978 and is active in the real estate, construction and renewable energy business sectors in several countries across Europe, the Middle East and Asia. In 2016 the SITAC Group partnered with EDF Renewables to develop and commission wind energy projects in India.