Vector Green Energy Pvt Ltd and Evergreen Power Mauritius Pvt Ltd. (Evergreen Power) have agreed into an MoU to build roughly 300 MW of wind power projects in India via greenfield development.
Vector Green has 650 MW of running renewable capacity of which presently only 23 MW is wind, and is building an additional 90MWp of solar in the state of Gujarat. With this agreement, the company plans to dramatically extend its wind footprint capitalizing on the re-emerging wind sector.
Vector Green will invest in these wind power initiatives subject to standard due diligence and approved milestones.
Evergreen Power has just been granted PPAs under the auction held by SECI and is also creating a pipeline of additional 250MW. Subject to the requirements of the MoU and the final contracts, these projects will be taken over and executed by Vector Green in compliance with conditions of the PPA and other bid papers. The parties have agreed to seek an extension of the collaboration to beyond this initial wind capacity.
This is a PR Newswire Feed; edited by Clean-Future Team