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Independent power producer (IPP) Vector Green Energy and its US-based peer Evergreen Power signed a memorandum of understanding (MoU) to collaborate on greenfield development of about 300 megawatts (MW) of wind power projects in India, as reported by Economic Times on November 8. Prior to this, Evergreen Power just won part of the 25-year power purchase agreements (PPA) in the Solar Energy Corporation of India’s (SECI) auction for 1.2 gigawatts (GW) of the interstate transmission system (ISTS) connected wind projects this September. Given that, Vector Green will operate their joint wind power projects according to the PPA and other bidding provisions, such as a declared annual capacity utilization factor (CUF) of at least 22%. In addition, the two companies are also open to future collaborations of more wind power projects.
Vector Green is wholly owned by Global Infrastructure Partners India’s funds and focuses on renewable energy. Currently, the IPP operates a 650MW capacity of renewable energy with only 23MW of wind power and has a 90 megawatt-peak (MWp) of solar energy facilities under the construction. Through the partnership with Evergreen Power, Vector Green can further expand its deployment of wind power in India. Evergreen Power is also developing renewables in the South Asian country, with another 250MW capacity of renewable energy in progress except for the SECI PPAs. In addition, last month, SECI launched a new round of bidding for wind power projects, end on December 2, which are also among the 1.2GW ISTS-connected wind projects. Citing data from Mercom’s India Solar Tender Tracker, SECI has conducted tenders for phases I to XII, totaling 16.3GW of wind projects.
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