Vaayu Renewable Energy (Mahanadi) Private Limited

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Vaayu Renewable Energy (Mahanadi) Private Limited entered into an agreement with Madhya Pradesh Government, to develop 28MW wind power project in Mahuriya in the state of Madhya Pradesh. The wind farm would involve the building of 35 Enercon wind turbines each of 800 kW capacity each.The electricity generated from the project would be evacuated by Northern, Eastern, Western and North Eastern (NEWNE) grid of India to the state grid. In August 2011, Enercon India was contracted to develop,construct,commission operate and maintain the project. Vaayu Renewable Energy (Mahanadi) Private Limited was expected to sell the power to Madhya Pradesh Power Trading Company Ltd (MPPTCL). The APPC (Average Power Purchase Cost) 25-year base feed-in tariff as per MPERC (Madhya Pradesh State Regulator) tariff order, was US$ 0.081/Unit (INR 4.35 per unit @ 53.44INR/USD). The transmission charges would be paid by Vaayu to the state transmission utility. The total capacity of 28MW was eligible for CDM benefits and the company had initiated the process with UNFCC and was undergoing validation process. Details of financial closure were not available. The total project cost estimated based on UNFCC Project Design Document (Enercon quotations) was US$ 30.9mn (INR 1655.35mn @53.44 INR/USD). ILFS was the lead arranger. As per company sources, the project was in advanced stage of completion, land acquisition and other clearances had been obtained, financial closure was still awaited.