Suzlon Energy Limited and Caparo Energy India Limited have signed a $1.28 billion agreement to develop a 1,000 MW wind power project in India, with the initial 500 MW expected to be operational by March 2012.

Information on the Target

Suzlon Energy Limited (SEL) stands as the world's third-largest and India's leading manufacturer of wind turbines, dedicated to the advancement of renewable energy. The company has recently signed a significant partnership agreement with Caparo Energy India Limited (CEIL) to develop a substantial 1,000 MW wind power project in India, with the first 500 MW set to be progressively commissioned by March 2012, and the remainder by March 2013. The estimated value of this deal is approximately USD 1.28 billion.

CEIL, a wholly owned subsidiary of Caparo Energy Limited (CEL), which is listed on the AIM market, is positioning itself to emerge as a prominent Independent Power Producer (IPP) in India, concentrating on wind energy as a core segment of its operations. The partnership aims to leverage Suzlon's technical expertise and manufacturing capability to establish a strong foothold in India's burgeoning renewable energy sector.

Industry Overview in India

India's renewable energy landscape is rapidly evolving, with wind energy emerging as a critical component of the country’s energy mix. As of now, India ranks as the fifth largest market for wind energy in the world. The government has i