OMWPL Wind Farm

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The project entails the construction and development of a 100 MW Wind Power Project in Lahori, Shajapur District in Madhya Pradesh (MP) by Ostro Energy Pvt Ltd. The project consists of 50 machines of 2 MW DF-100 INOX make with DFIG technology. The project has all statutory clearances in place and project is being constructed on a mix of private & revenue land. Construction activities are in full swing and project is scheduled to commission in FY2016. The sponsor Actis has committed to fully fund Ostro’s business plan with a funding commitment of US$230 million thereby ensuring availability of equity for all its projects. The power produced will be transmitted to Madhya Pradesh State grid through a Power Purchase Agreement signed with MP Discom. As per the MP state wind policy, power plants are built on a Build, Own and Operate(BOO) basis for a period of 25 years from the Commercial date of Operation. The state government invites proposals for allocation of projects from time to time and are bid competitively based on the tariff, if more than one party shows interest. The project is also eligible for revenue subsidy under the Generation Based Incentive Scheme in the Wind Power Sector in India. The total project cost is USD $103.07 million. Financing comprises a USD $76.24 million 14 Years 9 Months term loan provided by Axis Bank and an equity contribution of USD $26.83 million provided by Actis. Financial close occurred on 14th August, 2015. Source: i) https://ijglobal.com/data/transaction/35429/omwpl-wind-farm-100mw ii) http://www.ostro.in/about-us/ iii) http://www.ostro.in/wind-project-lahori/ iv) http://www.mpnred.com/Images/pdf/Wind-Policy_ENGLISH.pdf