Suzlon Energy, the world's fifth-leading and India's largest wind turbine manufacturer, today announced a memorandum of understanding with the government of Andhra Pradesh for the development of wind capacity in the state totalling 3,000 MW between 2012 and 2016, creating potential investments of up to Rs 18,000 crore. The announcement was made through a filing to the Bombay Stock Exchange.
According to the press release, the MoU was signed under the auspices of the Partnership Summit 2012 in the presence of Andhra Pradesh Chief Minister N Kiran Kumar Reddy.
Under the MoU, the state government will facilitate Suzlon in obtaining necessary permissions, registrations, approvals and clearances for the development of the wind farms. Suzlon, in turn, will play the role of a developer and facilitate the channelisation of investments into the state through its customers investing in wind energy.
Tulsi Tanti, chairman of Suzlon was quoted in the filing as saying, "We are extremely pleased to sign this MoU with the Andhra Pradeh government. This not only reinforces the state's position as one of emerging markets in wind energy, but also illustrates their committment to power a low-carbon economy by embracing progressive policies to power rapidly growing economy of the state."