MSPL Limited

completed

MSPL is one of India’s leading exporters of high-grade processed iron ore to China. It is part of the Baldota Group (the Group), a large Indian, family-owned industrial group comprising several companies in the business of iron ore mining, processing and exporting; wind power generation; and production and distribution of industrial gases. MSPL is the largest company within the Baldota Group and one of the largest private iron ore mining, processing and exporting companies in India.The project consists of the installation, operation, and maintenance of 36.6 MW of wind power generators at several locations in the States of Gujarat and/or Karnataka in the western part of the country. The project will be implemented by MSPL, which is also currently the owner of the single largest installed capacity of wind power assets in the country (111.6 MW). Electricity will be sold through long-term PPAs to local electricity distribution companies. The proposed IFC A Loan is a corporate facility to MSPL to be used to finance the company’s new investments in wind power.Construction and operation arrangements for the project are not yet finalized. In the past, MSPL has worked with two wind power project developers for its wind farms, and has generally entered into 20-year operation and maintenance (O&M) contracts with them. In the Indian wind power market, turbine manufacturers are involved in the identification of land with suitable wind profiles, as well as in the construction, commissioning, and operation of the wind parks. During development of the wind parks, their ownership is transferred to companies desirous of owning wind power generators/installations. The owners of wind power generators/installations then enter into long term power purchase agreements (PPAs) with electricity distribution companies.