Suzlon Energy Ltd is exploring the sale of 300 megawatts (MW) of wind power assets which are part of Skeiron Renewable Energy, a renewable energy platform set up by Suzlon along with private equity investors Olympus Capital and Asia Climate Partners. It was launched in 2015 with a vision of providing clean energy using the latest technology and innovations, which contributes significantly towards India’s 175 GW renewable energy target and expects to add over 3 GW by 2022.
The Company is expected to generate at least 1.3 million megawatt-hours of electricity annually which will avoid approximately 1 million tons of carbon dioxide annually from 2018 onwards. To safeguard that the renewable energy projects are developed sustainably, the Company will undertake an Environmental Social Assessment before developing projects to ensure that any potential impacts are identified and adequately mitigated. The development of the projects will create both skilled and unskilled job opportunities in India.
Suzlon has recently appointed investment bank Kotak Mahindra Capital to explore the sale of the assets housed under the Skeiron platform, which currently holds around 300MW of wind power assets, both developed and under development.