Singapore, 3 June 2016 – Equis Pte. Ltd. (Equis), Asia’s largest independent renewable energy developer and investor, announced the commissioning of a 108‐megawatt (MW) wind project in Fatanpur village, Dewas District, Madhya Pradesh, India (FTP Project).
The FTP Project was developed by Energon RJ Wind Power Pvt. Ltd. and is the 26th renewable energy project Equis has commissioned since October 2013, with another 56 projects under development and construction. Energon is one of Asia’s largest independent power producers focused on wind power generation and is an Equis investee company.
Equis has financed 737MW of Indian renewable energy with an additional 300MW pipeline under development. The FTP Project brings Equis’ operating renewable energy portfolio in India to eight (8) projects totalling 464MW comprising 368MW of wind projects and a 96MW run‐of‐river hydro project. In addition Equis has 273MW of projects under construction targeting commissioning in the next twelve months, comprising 46MW of wind, 97MW of hydro and 130MW of solar projects.
David Russell, CEO at Equis, stated, “India is set for a period of rapid, sustained growth in energy demand, with renewable energy poised to play a key role in satisfying this demand. Equis is committed to leveraging our experience and expertise in the development and operation of renewable energy assets in Asia to support this growth. In addition to India, we will also continue to explore opportunities in other markets to meet the growing demand for cost‐effective renewable energy in Asia.”
The FTP Project:
- has been awarded a 25 year, fixed priced power purchase agreement with the Madhya Pradesh government;
- Will supply the electricity needs of approximately 208,000 homes with 242,859 MWh of renewable energy per annum;
- Will save an estimated 229,381 mn litres of water and 224,887 tonnes of greenhouse gas (GHG)emissions (equivalent to 47,451 passenger vehicles) per annum; and
- Has created additional employment opportunities in the local community.
With over 200 professionals employed in India, Equis will continue to support the Indian renewable energy industry with additional projects scheduled for commissioning in 2016.