Elcon Greengen India Pvt Ltd (“Elcon”)
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is an independent power producer developing clean energy assets in India. Elcon is developing wind energy projects in Andhra Pradesh which has huge potential. Along with wind energy, Elcon is looking at opportunities in Solar and Hydro Power in Andhra Pradesh and other states in India.
Elcon is currently executing about 60 MW of Wind Farm Projects in Anantapur District, which is the most backward region of Andhra Pradesh, but has the best wind potential in the entire state. 5 MW of Solar PV Projects in Andhra Pradesh is under planning stage with feasibility studies for power evacuation is in process. The company is also looking at potential investment opportunities for hydro power, wherein substantial progress with respect to project development works have taken place.
The company is also expecting Andhra Pradesh’s government approval very shortly for implementation of over 500 MW of wind energy capacities in Anantapur and Kurnool Districts. Special emphasis is being laid to develop the wind projects using world-wide proven technology with larger rotor diameters and hub heights to reduce the generation cost and maximize the returns from each of the project.
The Company is adopting strategies to de-risk the portfolio by spreading across various states and by having operating assets with different renewable energy sources. Along with evaluating the options of selling the power at preferential tariffs, Elcon is also working closely with various power intensive industries (cement, steel, textile etc) for supplying power on long term basis either as captive sale or third party sale.
Elcon works closely with various government agencies in Andhra Pradesh namely, APERC, APTRANSCO, NREDCAP for policy framework of renewable energy in the state.
Elcon is actively pursuing acquisition of viable wind project sites from equipment manufacturers or developers for adding operational assets to the portfolio.
With the presence of specialised personnel in project viability assessment, power evacuation, power sale arrangements, project finance, techno-commercial contracts, legal, liasioning etc, Elcon strongly believes that its team working cohesively will ensure the goals are met.
The Company’s target is to have 15 MW of operational capacity by December, 2014 scaling up to 50 MW by March, 2015 and reach 280 MW by March, 2016.
The Company’s vision is to have 1000 MW of operating clean energy assets by 2019.