Suzlon Energy is in advanced talks with Lord Swaraj Paul’s Caparo Group to set up 3,000 MW capacity wind farms over six years, a deal which could bring in around $3 billion to the world’s third-largest wind turbine manufacturing company. The power plants will be developed for Caparo Energy, the London-based group’s joint venture with Finland’s Wartsila, and most of them are likely to be executed in India, according to a senior Suzlon executive. “Each mega watt of wind power set up by Suzlon for Caparo Energy could fetch the company over $1 million in revenue,” he said, adding that the two companies are likely to finalise the agreement this month.
According to the discussion between the two sides, Suzlon Energy will help Caparo identify wind farm sites in India and may also help in land acquisition efforts.
Caparo Energy India was set up in March this year with Wartsila, which specialises in manufacturing diesel and gas engines used for powering ships as well as for electricity generation.