Greenko Group, engaged in clean energy projects, said it has secured permission to develop wind farms in Maharashtra, Karnataka and Rajasthan with a total installed capacity of 650 MW in phases.
Of this, it recently secured permission to set up 300 MW in Karnataka and plans to set up 100 MW of wind energy generation unit in phase I to be completed by December 2012.
It has also entered into a power purchase agreement with Karnataka.
The company, which has its base in Hyderabad and is listed in AIM in the UK, has struck a partnership deal with General Electric Co (GE) to execute the wind energy projects, which entail supply, installation and maintenance of 1.6 MW turbines.
To raise Rs 370 cr
Greenko, focussed on setting up hydel and wind energy projects in the country, is in the process of raising £50 million (about Rs 370 crore) by placing its shares to new and existing investors, including Arden Partners and Mirabaud Securities. This placement is equivalent to 15.7 per cent of the company's equity.
According to Mr Anil Chalamalasetty, Chief Executive Officer of Greenko, the company now has an installed capacity of 183 MW and is developing projects with a total installed capacity of 1,600 MW.
It expects to have total installed capacity of 1,000 MW by 2014. Of this, 540 MW will be from wind power farms located in three States.