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Sovereign wealth fund-backed Greenko Group commissions fourth wind farm project

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November 26
6:23 AM 2013

India-based renewable power company Greenko Group said it had already completed its wind farm located in Karnataka state. Backed by the sovereign wealth fund of Singapore, Greenko's most recently-commissioned project is the GBP 13 million or USD 21 million wind farm called Matrix, which has a capacity of 15 megawatts. The company said the completion of Matrix brings its total generating portfolio to 426 megawatts, representing a 43% jump in seven months.

Greenko said Matrix is the fourth wind farm that the company has completed this year and that it was finished on schedule. Power generated from the wind farm will be sold directly to a multinational IT park located near Bangalore. The deal will be done through an indexed power purchase agreement that will last for ten years. Matrix utilizes ReGen-manufactured Vensys V87 1.5-megawatt gearless turbine, which delivers a yearly average capacity factor of 28%.

Greenko Chief Executive Officer Anil Chalamalasetty said about completion of the project, "Our strategy of building large wind farms in a phased manner, using the latest low wind speed turbine technology and connecting to the high voltage transmission grid, means we can deliver significant, predictable and profitable growth. Matrix is our fourth wind farm this financial year. We expect to commission a further five wind farms before the 2014 monsoon, which would give us over 600 MW for next year's main generating season."

Matrix shares its existing 180-megawatt grid connection with its Basvanbagewadi project. Phase 1 of the 51.2-megawatt Basvanbagewadi project is already in operation while the 50-megawatt second phase is still being built. Meanwhile, Greenko also said its 15-megawatt Mangalore wind project is set to be completed by the end of this year. Phase 2 of the Basvanbagewadi project will use a G97 turbine from Gamesa and will also be selling its output through a state power purchase agreement, Greenko said.

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