With the 99 MW Theni project, CLP India’s portfolio of committed wind energy investments will grow to approximately 450 MW, making CLP one of the largest wind power developers in India. This investment will bring the total Group renewable investments to over 1,300 MW, around 10% of the total generating capacity of its portfolio.
CLP entered an agreement with major wind turbine manufacturer Vestas Wind Technology India Private Limited to develop the green-field project. Construction is planned to commence in the fourth quarter of 2009 and will complete in the first quarter of 2010. The wind farm will involve the building of 60 wind turbines of 1,650 KW capacity each. The project is expected to qualify as a Clean Development Mechanism (CDM) project under the Kyoto Protocol, which will add to the financial viability of the project.
CLP Group’s Chief Executive Officer, Andrew Brandler, said, "The Theni project underpins its contribution to the Group’s target of having 20% of our generating capacity from non-carbon emitting power across the Asia Pacific region by 2020, an interim target outlined in our Climate Vision 2050. This investment reinforces CLP’s position as a leading foreign power producer of clean energy in India."
"The new wind farm development has been encouraged by the positive wind power policy implemented by the State of Tamil Nadu, the Tamil Nadu Electricity Regulatory Commission and the Tamil Nadu Electricity Board," said Rajiv Mishra, Managing Director of CLP India.
"The state of Tamil Nadu is the pioneering state for wind energy in India. The new policy and the renewed ‘Renewables Purchase Obligation’ targets are very encouraging for Independent Power Project (IPP) developer like CLP," Mishra added.
"This exciting project in Theni is a major step forward for Vestas in India. The project award is the recognition of the long term relationship between the two companies and we look forward to using our expertise and technology in the wind market to help CLP realise their own renewable energy ambitions," says Vestas Asia Pacific’s President, Sean Sutton.
CLP has recently completed its acquisition of the 50.4MW Indian wind farm in Maharashtra from its 50% joint venture partner, Roaring 40s, in June. CLP’s largest wind farm, Andhra Lake project, is located in the western state of Maharashtra in India with a capacity of 113.6 MW.
CLP India is one the largest foreign investors in Indian power sector. In addition to its renewable energy portfolio, it owns and operates a modern 655 MW combined cycle gas power plant in Village Paguthan in Gujarat and is also building a 1,320 MW domestic supercritical coal-fired power project at Jhajjar in the northern state of Haryana, a project it won through international competitive bidding in July 2008.
About CLP
CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, which is one of the largest investor-owned power businesses in Asia. Through CLP Power Hong Kong, it operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to over 5.5 million people in its supply area.
Outside Hong Kong, CLP also invests in energy businesses in Mainland China, Australia, India and Southeast Asia, with a diversified portfolio of power generation from gas, coal, renewables and nuclear.
CLP is listed in the Global Dow – a 150-stock index of the world’s leading blue-chips, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), and the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40).
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