Vector Green to partner Evergreen Power to build 300 MW wind plants

By: |
November 09, 2021 3:45 AM

EverGreen Power was awarded 150 MW of wind projects in the auction conducted September by the Solar Energy Corporation of India against a tariff of Rs 2.69 a unit. It is also developing a pipeline of another 250 MW.

Vector Green has 650 MW of operating renewable capacity, of which currently only 23 MW is wind-based. The MoU aims to help the company expand it wind power portfolio in India.Vector Green has 650 MW of operating renewable capacity, of which currently only 23 MW is wind-based. The MoU aims to help the company expand it wind power portfolio in India.

Vector Green Energy, the Indian renewables platform of New York-based Global Infrastructure Partners (GIP), has signed a memorandum of understanding (MoU) with Illinois, USA-headquartered Evergreen Power to develop around 300 megawatt (MW) of wind power projects in India.

Vector Green has 650 MW of operating renewable capacity, of which currently only 23 MW is wind-based. The MoU aims to help the company expand it wind power portfolio in India.

EverGreen Power was awarded 150 MW of wind projects in the auction conducted September by the Solar Energy Corporation of India against a tariff of Rs 2.69 a unit. It is also developing a pipeline of another 250 MW.

“Subject to the provisions of the MoU and the definitive documents, these projects will be taken over and implemented by Vector Green in accordance with provisions of the PPA and other bid documents,” the statement from Vector Green said.

In September, 2020, Vector Green had acquired 306 MW solar projects from RattanIndia Group. The company has also been selectively participating in green-field renewables project bids in recent months.

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 45%, and has surpassed the wind power capacity for the first time in FY21.

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