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ReNew Wind Power, founded by Mr Sumant Sinha, a former Chief Operating Officer of Suzlon Energy, aims to set up 200 MW wind power capacity by December 2012.
ReNew Wind Power was in news last month when it announced that it had raised $200 million (Rs 1,000 crore) from Goldman Sachs group.
Mr Sinha told the Business Line that the ReNew Wind had placed orders with Suzlon and the Chennai-based ReGen Powertech for wind power turbines, but declined to divulge the details.
He said the company would start commissioning projects by the middle of next year, with a total capacity of 100 MW.
ReNew Wind intends to put 25 MW under the REC scheme – which would fetch it trade-able ‘renewable energy certificates’.
The other alternative is to sell power to a distribution company at a preferential tariff agreed upon in a ‘power purchase agreement’. Noting that “PPA is good to have”, the REC scheme would help to `get hang of it’, he said. (The 6-month-old REC regime is in a nascent stage and several renewable energy developers are waiting to see how things pan out before committing their capacities to the scheme.)
“All of us have to try and make the REC (scheme) work,” Mr Sinha said.
ReNew Wind has ambitions to arm itself with wind power capacity of 1,000 MW by 2015-16. “Our immediate task it to build a team,” Mr Sinha said.
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