Suzlon Energy Working On $920 Million Offshore Wind Energy Project
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One of India’s leading wind energy solutions providers, Suzlon Energy, has elaborated on its plans to set up a pilot offshore wind energy project in the western Indian state of Gujarat.
Suzlon Energy chairman Tulsi Tanti recently announced that his company is progressing well on its 600 MW pilot offshore wind energy project off the coast of Gujarat. The company has undertaken a technical feasibility study of the planned project, and expects a total expenditure of ₹6,000 crore ($923 million) on the project, with construction on the project expected to begin next year, and commissioned in three to five years.
Suzlon Energy proposed an offshore project of 300 MW at this year’s investors summit in Gujarat. Being the first offshore wind energy project in the country, Suzlon had to acquire several regulatory clearances. Neither the central government nor any state government has determined tariffs for offshore wind energy projects, therefore this would be a fresh exercise for the same.
Suzlon Energy may well have the technological advantage in building the project. The company acquired REpower in 2007, a leader in the European offshore wind energy market. Suzlon Energy then sold the company (renamed as Senvion) earlier this year; but one would assume that Suzlon would have absorbed some technological expertise from Senvion in the offshore wind energy domain.
This pilot project could prove very critical for Suzlon’s endeavour to maintain its leadership in the Indian market. Poor financial conditions have forced the government to sell Senvion at a loss, sell equity stake, and enter the more promising solar power market. Other companies like Inox Wind and Gamesa have been eating away Suzlon Energy’s share in the Indian market.
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