Caparo Energy India (CEIL) is a wholly owned subsidiary of Caparo Energy (CEL) with a market capitalisation of approximately Rs 1,400 crore. CEIL is focused on becoming a major wind power IPP in India. CEILs first 500 mw project is to be commissioned by March 2012 and another 500 mw is to be commissioned progressively by March 2013.
Tulsi R Tanti, founder & CMD of the Suzlon Group, said this had been a strong year for wind power in the Indian market. With large players like Caparo entering the market, we are also seeing large wind IPPs in India becoming a major force, in addition to the strong captive and small-size IPP segment. We are also seeing growing interest of overseas investors to deploy funds through the IPP-route, Tanti said. Caparos ambitious plans underscore the maturity and growing appetite for IPPs in Indias energy matrix and more importantly, in the renewable energy space, he said. Till now the largest IPP deal in the domestic market for Suzlon was worth Rs 1,149 crore for 202 mw from the Techno Electric Group.
Angad Paul, non-executive chairman of CEL, said the recent improvements in the regulatory framework, such as the revised feed-in tariffs, renewable purchase obligation, generation-based initiatives and renewable energy certificates gave the company opportunity for value creation using a combination of various revenue options.
Indias energy market is one of the worlds most buoyant. With the supportive regulatory framework for wind energy, we see a great opportunity to invest as an IPP in what is the worlds fifth largest wind energy market, Paul said.