Siemens Gamesa to supply 302 MW wind turbines to Ayana Renewable

The highest tariff of Rs 3.46/unit was discovered in the maiden auction, and the lowest rate of Rs 2.44/unit was discovered in the third tranche in February, 2018.

The country has set a target to raise the capacity of installed renewable energy generation plants from the current level of 100 GW to 450 GW by the end of 2030. 

Siemens Gamesa said on Monday that it has won an order to supply 302 mega-watt (MW) of wind power turbines from Ayana Renewable. The financial details of the deal was not disclosed. Ayana had won the project, expected to be commissioned in 2023, in the tenth auction tranche conducted by the Solar Energy Corporation of India (SECI) in March when the lowest tariff of Rs 2.78 per unit was discovered. Ayana Renewable Power is backed investors such as UK’s CDC and the National Investment and Infrastructure Fund.

Turbines for this project will be supplied from Siemens Gamesa’s manufacturing plants in India. The company, operating in the country since 2009, has one blade factory in Nellore, Andhra Pradesh, another manufacturing plant Chennai, Tamil Nadu. It also runs an operations and maintenance centre in Chennai.

SECI has so far held eleven reverse auctions for wind power since February 2017. The highest tariff of Rs 3.46/unit was discovered in the maiden auction, and the lowest rate of Rs 2.44/unit was discovered in the third tranche in February, 2018.

 The country has set a target to raise the capacity of installed renewable energy generation plants from the current level of 100 GW to 450 GW by the end of 2030. Currently, solar power has become the key driver of capacity addition in the renewable energy sector, increasing its share in the overall green mix to around 47%, surpassing wind power capacity in FY21.

Analysts have pointed that the wind market may not be key driver in medium term due to the widening gap between solar and wind tariffs. Solar rates plummeted to record low of Rs 1.99/unit in December, 2020. With rising prices of solar modules, which comprise about 60% of the total project expenditure for solar plants, tariffs in recent solar auctions have been around Rs 2.20/unit.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.