July 25, 2008

RS India Wind Energy project to acquire land by May

RS India Wind Energy Private Limited is expecting to complete land acquisition for phase II of its upcoming integrated renewable energy project in Maharashtra soon.

Mr Gurmeet Singh spokesperson of RS India said that around 600 acres would be acquired in Sangli district by May 2008 fulfilling the requirement for the first 2 phases of the INR 700 crore project.

In phase I, it is planning to construct a 100 MW wind farm, a 5 MW solar power project and Jatropha plantation spread over 225 hectares. Work on phase I had already commenced and the wind power project was scheduled to commission by March 31st 2008.

In phase II, 200 MW of additional wind power capacity will be developed along with another 225 hectares of Jatropha cultivation. This phase is scheduled to complete by end of 2008. For evacuation of wind power generated, a power purchase agreement has also been signed with Maharashtra State Electricity Distribution Company Limited.

In phase III, another 100 MW of wind power capacity will be added. However, it might look at alternative locations like Goa and Haryana for the last phase.

RS India is promoted by Gurgaon based RS India Group, that holds 63% equity while, PTC India holds 37%. The project is being co financed through an INR 487 crore of lease finance from Power Finance Corporation Limited.