Independent power producer, Vector Green together with Evergreen Power is looking to develop around 300 megawatts (MW) of wind energy initiatives in India. Both entities have inked an MoU (memorandum of understanding) on this regard.
“Vector Green Energy Pvt Ltd (Vector Green) and Evergreen Power Mauritius Pvt Ltd (Evergreen Power) have entered into an MoU to develop around 300 MW of wind power projects in India through greenfield development,” said a media statement.
With this partnership, Vector Green intends to considerably broaden its wind footprint capitalising on the re-emerging wind alternative. Vector Green is wholly owned by funds managed by Partners India LLP.
The company has 650 MW of working renewable capability of which only 23 MW is generated from wind power. It is further creating an extra 90MWp of photovoltaic capacity in Gujarat.
Evergreen Power is a growth-centric renewable power platform, headquartered in Illinois, USA, concerned in creating, developing and managing renewable, together with wind, photovoltaic, hybrid and battery storage initiatives. It has its venture footprint within the USA and India.
Recently, Evergreen Power has been awarded PPAs based on the public sale carried out by SECI (Solar Energy Corporation of India), It is in the process of creating a pipeline of another 250MW of power. Subject to the provisions of the MoU and the definitive paperwork, these initiatives might be taken over and carried out by Vector Green in accordance with provisions of the PPA.