Tuppadahalli Energy India Private Limited_56MW Windfarm

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Acciona Wind Energy Pvt. Ltd. (AWEPL), a 100% subsidiary of the Acciona Energia Internacional, S.A. (Spain) and Acciona, S.A (Spain), was implementing a 56.1MW wind power project at Shimoga and Chitradurga Districts in the state of Karnataka. Acciona established Tuppadahalli Energy India Private Limited to execute this project. The electricity generated from the project would be evacuated through the Southern Regional grid to the state grid. The delivery of the power plant had been done by Vestas Wind Technology India Pvt. Ltd. The wind power plant comprised 34 units of Vestas V82 Wind Turbine Generators (WTGs), with each WTG of 1,650kW capacity. Vestas was also contracted in September 2010, for the O&M for the plant, apart from erection and commissioning. Acciona Wind Energy had executed a Power Purchase Agreement with Mangalore Electricity Supply Company (MESCOM) for sale of electricity. The APPC (Average Power Purchase Cost) 10-year base feed-in tariff as per KERC (Karnataka State Regulator) tariff order, was US$ 0.069/Unit (INR 3.70 per unit @ 53.44INR/USD). The transmission charges would be paid by Acciona to the state transmission utility. The total capacity of 56.1MW would be eligible to receive CDM benefits under UNFCC. The validation process had been completed for CDM benefits. Financial closure took place in December 2010. The total project cost at the time of financial closure was US$ 71.9 mn (INR 3287mn @ 45.7 INR/USD). The debt equity ratio was 60/40. Financing comprised a 14-year term loan of US$ 43.8mn (INR 2000mn) and sponsor equity of US$ 28.2mn (INR 1287mn). IDFC was the loan arranger. Construction for the plants started in September 2010 (EPC contract), and the plants were progressively commissioned through 2011 - the first 15 WTGs were commissioned on 29th July 2011 and the remaining 19 WTGs were commissioned between August 2011 to October 2011.