ACCIONA Energy has commisioned its third wind park in India, the 56.1 MW Tuppadahalli facility, which represents an investment of 58 million euros. This development strengthens the company?s presence in India, where its total installed capacity is now 85.8 MW, putting it at the head of Spanish wind power developers with their own assets in that country.
Tuppadahalli joins Arasinagundi (13.2 MW), installed in 2007, and Anabaru (16.5 MW), built in 2008. Both wind farms are the best performing ones in terms of capacity factor, with 36.7% compared with the average data (21.2%), according to a survey issued by Bloomberg-New Energy Finance (*) on 111 operational wind power projects in India representing 1.350 MW. All three are 100% owned by ACCIONA.
Also located in the state of Karnataka, the new park contains thirty-four 1,650 kW wind turbines and its renewable energy production will avoid the emission of 129,000 metric tons of CO2 a year from conventional power stations in the state. On a yearly average basis, it will generate enough clean energy to power around 35,000 average Indian homes. The energy is being sold to the state owned distribution utility MESCOM.
?We are pleased to have commissioned the project tackling the numerous challenges faced by us during execution. We would like to appreciate the support extended by our lenders IDFC and our contractors? said Glen Reccani, Managing Director of ACCIONA Energy India.
In December 2010, ACCIONA signed a long-term financing agreement for Tuppadahalli with Infrastructure Development Finance Company Limited (IDFC), the leader in infrastructure financing in India. The agreement was reached in three months, a record for this type of operation.
ACCIONA Energy expects to increase its presence in India in the short and medium term with other projects that are currently going through administrative procedures.
Clean Development Mechanism
As in the two other wind parks previously installed in India, ACCIONA has incorporated Tuppadahalli into the Clean Development Mechanism (CDM) system envisaged in the Kyoto Protocol.
The CDM is one of the flexibility mechanisms contained in the Protocol in order to reduce emission levels. The aim is that public or private entities carry out projects in developing countries that contribute to their sustainable development and an overall reduction in greenhouse gas emissions.
Developers (private companies or other entities) thereby obtain certified emission reductions (CERs) that can then be used in industrialized countries to comply witih the commitments undertaken in terms of emission reductions.
The trading of CERs on the emission rights market guarantees the guarantees the economic viability of the projects, thus favouring sustainable development initiatives in countries receiving the investments.