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EDF Energies Nouvelles forms new JV with SITAC

Published 26 January 2016

EDF Energies Nouvelles is diversifying into onshore wind energy by taking 50% stake in SITAC Wind Management and Development, a move which is part of the former’s expansion plan in India.

wind energy

The agreement with the SITAC Group includes plans to deploy 142 MW capacity by the end of 2016.

The joint venture between SITAC and EDF Energies Nouvelles has become EDF's wind energy subsidiary in India.

SITAC Group specializes in real estate amd has developed wind technology in India since 2007.

The SITAC and EDF Energies Nouvelles joint venture intends to cover all sections of wind energy market - right from development, construction, financing of the wind farms to their operations and maintenance.

A total of 142MW in installed capacity spread across four projects are scheduled for completion in 2016. These projects, which will be located in the Indian state of Gujarat, hold a 25-year Power Purchase Agreement (PPA) signed with GUVNL, the local electricity distribution company.

EDF Group CEO and chairman Jean-Bernard Levy signed the partnership agreement with Malvinder Singh, the founder and majority shareholder of the Indian SITAC Group. The deal was struck in the presence of the French President during his visit to India and the Indian Prime Minister.

The new partnership is meant to fortify EDF Energies Nouvelles' position in India.

The company, which established itself in 2013 through ACME Solar, has commissioned 180MWp in total solar capacity and is also constructing 132 MWc in projects in Uttar Pradesh and Telangana states of India.

Image: A total of 142 MW in installed capacity spread across four projects are scheduled for completion in 2016. Photo: Courtesy of xedos4/FreeDigitalPhotos.net.