Oct 8, 2013 - India’s Tata Power Co Ltd (BOM:500400) said on Tuesday it will buy a 39.2-MW wind farm in the state of Gujarat from US-based AES Corp (NYSE:AES), a move that would increase the group’s wind capacity to 437 MW.
In particular, Tata Power Renewable Energy Ltd (TPREL) had signed a deal to buy the owner of the wind farm -- AES Saurashtra Windfarms Pvt Ltd (ASW). The group did not mention how much it would pay for the asset.
The specific wind farm has been operational since January 2012 and is selling the generated electricity to Gujarat Urja Vikas Nigam Ltd under a power purchase agreement (PPA) at INR 3.56 (USD 0.058/EUR 0.042) per kWh. The project has also been registered as a clean development mechanism (CDM) and is eligible to receive Certified Emission Reductions (CERs).