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Home / India News / 2007 / May / May 28, 2007
Power4 India Aims for Wind Power Development with Non-Recourse Project Financing

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Power4 India Aims for Wind Power Development with Non-Recourse Project Financing

Bangalore, Karnataka, India

Bangalore-based Power4 India introduces development of non-recourse funded wind power projects with significant thrust on community benefits. Over the next two years, the company is targeting up to 300MW of wind park development by launching an entrepreneurial business structure which brings together communities and landowners as project stakeholders. Whilst the prevailing model in India is based on short-term fiscal gains, Power4 India has innovatively developed a "participative Build-Own-Operate" structure ensuring scientific selection of optimum wind potential sites, maximizing power and revenue generation and asset value creation. The project implementation would see state of the art MW-series turbines, experienced suppliers, and non-recourse project debt and equity financing from international financial institutions

Arwinder P Singh, Managing Director of Power4 India, says "One of the main features of our projects is providing tangible community benefits. We will contribute certain percentage of project revenues annually towards village infrastructure development and as these sites are mostly in isolated areas, the benefits would be tremendous. We are optimistic that our business structure will transform the Indian wind energy industry bringing benefits at all levels right from the village-based farmer to the entrepreneur whilst addressing the power needs of the country. We also look forward to the support of the state power bodies to make this movement a success".

Information about the company:

Power4 India was conceived with the objective of building large-scale wind power projects in India. The London (UK) and New Delhi based Sawhney Group with expertise in steel, high end fashion and brands, and IT, has pioneered the creation of Power4 India Bangalore.

singha@power4.in

Source: Power4 India (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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