Shriram EPC Ltd has bagged an order for 60 units of its 250KW wind turbines from Cape Energy Private Ltd., an associate of Bergurruen Holdings (BHI).
BHI is a PE funded company with interests in Infrastructure and Real Estate Development in India. The order is on a turnkey basis and total value of the order is Rs. 700mn.
The range of the order includes supply of wind electric generators including all components, procuring of necessary licenses for operation of turbines, erection and commissioning of turbines including all related civil work, grid connectivity, and an annual contract for operation and maintenance of the turbines.
The order covers setting up a wind farm project in Tirunelveli district, Tamil Nadu which will have a total generation capacity of 15MW. The project is scheduled for completion by end-April 2009.
T. Shivaraman, CEO & Managing Director, SEPC, said, "This order win demonstrates continued momentum in our wind turbines vertical. Despite an environment that continues to be challenging, we see a large amount of interest in renewable energy projects. While the project assessment cycle has become longer, falling raw materials prices combined with softening interest rates are increasing the attractiveness of these projects. With a shorter break even point and a situation of pent up demand due to caution exercised for the last couple of quarters, we believe we are on the cusp of an exciting demand scenario for renewable energy projects."
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