Bindu Vayu Urja (Chakala) Private Limited

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Mytrah Energy Limited entered into an agreement with Maharashtra Government, to develop 39MW wind power project at Chakala village in the state of Maharashtra. Mytrah established Bindu Vayu Urja Private Limited, a special purpose vehicle, to execute this project. The wind farm would involve the building of 26 wind turbines of Suzlon S82 model of 1.5MW capacity each.The electricity generated from the project would be evacuated by NEWNE grid of India. The EPC for the power plant had been awarded to Suzlon Energy Limited. Suzlon would develop, construct, commission, operate and maintain the project at an all-inclusive price. Bindu Vayu Urja Private Limited had already approached Maharashtra State Electricity Distribution Company Limited (Maharashtra Discom )- for entering into Power Purchase Agreement. The APPC (Average Power Purchase Cost) base tariff as per MERC tariff order (dated 29 April 2011 for Wind zone 1) was US$ 0.10/Unit (INR 5.37 per unit @53.44 INR/USD) for the first 13 years of operation. The transmission charges would be paid by GFL to the state transmission utility. The total capacity of 39MW was eligible for CDM benefits and the company had initiated the process with UNFCC. Details of financial closure were not available.The total project cost estimated based on UNFCC Project Design Document (Suzon quototations) was US$ 32.9mn (INR 1757mn @53.44 INR/USD). As per company announcement to the market, the project was fully commissioned in the April 2012 to May 2012 period. Till further validated information, we are considering May 2012 as the financial closure date for the purpose of this database.