EDF Energies Nouvelles signs JV in India
Jean-Bernard Levy, Chief Executive Officer and Chairman of EDF Group has sealed the partnership agreement with Malvinder Singh, the founder and majority shareholder of the Indian SITAC Group. The joint venture plans to install 142 MW capacity by the end of the year.
This joint venture has now become EDF Energies Nouvelles’ wind energy subsidiary in India. It is jointly owned by the SITAC Group specialised in real estate and, which has developed its wind expertise in India since 2007.
The partnership between SITAC and EDF Energies Nouvelles aims to cover every section of the wind energy market – from the development, construction and financing of wind farms in India, to their operations & maintenance.
In 2016, four projects with a total of 142 MW in installed capacity will be completed. Located in the state of Gujarat, one of the windiest of India, they hold a 25-year Power Purchase Agreement (PPA) signed with GUVNL, the local electricity distribution company.
This new partnership strengthens EDF Energies Nouvelles’ position in the Indian market. Since first establishing a presence in 2013 through ACME Solar its 25%-owned local subsidiary dedicated to solar PV, EDF Energies Nouvelles has commissioned 180 MWp in total solar capacity and is building 132 MWc in projects in Uttar Pradesh and Telangana.
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