Tamil Nadu(Attn.editors: The following press release comes to youunder an arrangement with PRNewswire. PTI takes noeditorial responsibility for the same).
Orange Renewable Awarded 200 MW Wind Project in the State ofTamil NaduNEW DELHI, October 16, 2017/PRNewswire/ -- Orange Renewable, a100% subsidiary of Singapore-based AT Holdings Pte. Ltd, hassecured a 200 MW Wind Power project in the State of Tamil Naduunder an intensely competitive global bid floated by SolarEnergy Corporation of India (SECI).
(Logo:http://mma.prnewswire.com/media/583784/Orange_Renewable_Logo.jpg ) The company's bid of a highly competitive rate of Rs. 2.64/ unit (4.1 US cents / unit) is the lowest tariff in India andone of the lowest in the world, establishing Orange Renewableas one of the most competitive wind power producers in theworld.
Speaking on the development, Sudhir Nunes, CEO, WindBusiness, Orange Renewable said, "It is nothing short of ahistoric achievement for a young and steadily growing IPP likeOrange. We were able to achieve our targeted returns at such alow tariff through a combination of factors, including:ownership of critical development assets in a site with strongwind resource, strong relationships with global suppliers oflowest cost of energy technology, cost economy of scaleassociated with a single 200MW project, efficient sourcing ofcapital, sophisticated and innovative contracts and lowofftake risks in terms of PPA and evacuation. We attributethis success to our disciplined focus on building projectdevelopment, financing, construction management and assetmanagement capabilities."Based in Toothukudi district of Tamil Nadu, this project willbe connected to the inter-state transmission system/nationalgrid, which will enable flow of power from a region rich inwind resource to states that are relatively poor in windresource in order to help meet their energy needs, comply withtheir renewable energy purchase obligations and lock-instable, long-term power prices.
The project will supply clean and affordable energy toapprox. 150,000 households and offset 650,000 equivalenttonnes of CO2.
About Orange Renewable, India (http://www.orangerenewable.net)Headquartered in New Delhi, a 100% subsidiary of AT HoldingsPte. Ltd, Singapore, Orange Renewable Power is focused ondeveloping, constructing and operating renewable energyprojects in the field of wind and solar across India withpresence in Andhra Pradesh, Tamil Nadu, Karnataka,Maharashtra, Gujarat, Madhya Pradesh and Rajasthan.
AT Holdings Pte Ltd, Singapore (http://www.atcapital.com.sg) Headquartered in Singapore, AT Capital Group was founded byMr. Arvind Tiku. AT Capital Group has an asset portfolio worthapproximately US$2.5 billion. Its global portfolio includesinvestments in residential and commercial real estate,hospitality, natural resources, renewable energy, engineeringand construction.
Media Contact:Vinay Narangvinay.narang@atcapital.co.in+91-9971003068Senior General Manager Corporate Communications and PROrange RenewableSource: Orange RenewablePRNewswireOSS.
This is unedited, unformatted feed from the Press Trust of India wire.