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Suzlon wins 210-MW solar project in Telangana

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Suzlon Energy , equity shares, convertible bonds, conversion into equity

HYDERABAD: Wind turbine maker Suzlon Group has announced its foray into solar energy bagging a 210-MW project from Southern Distribution Company of Telangana Ltd.

The wind energy company has won the project through a competitive bidding process. The 210-MW project consists of six different capacity projects to be located in Telangana.

This includes one project of 100 MW, one of 50 MW and for projects of 15 MW each. These projects are expected to be commissioned during financial year 2016-17.

These solar projects will be developed under six different special purpose vehicles of which one is an existing subsidiary of Suzlon, while five have been acquired by taking over 100 per cent shareholding. These would be used as the proposed solar special purpose vehicles for the project.

The Telangana utility had invited bids for procuring 2,000 MW of solar PV projects through a tariff-based competitive bidding process with a unique distributed generation model to utilise the substation capacities across the State.

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