Alfanar Group to sell 300 MW wind power projects in India
India is running the world’s largest clean energy programme
Saudi Arabia’s Alfanar Group is looking to sell half of its 600 MW wind power projects in India. The company has tasked JM Financial to find a buyer. Riyadh-based Alfanar Group has a clean energy portfolio of 1.4 GW in West Asia, Africa, Europe and Asia.
In India the company has a wind project portfolio of around 600 MW that it won in auctions conducted by state-run Solar Energy Corporation of India (SECI). It quoted Rs 2.45 per per kWh and Rs 2.77 per kWh in February 2018 and October 2018, respectively to win the bids for developing 300 MW each of wind projects.
India is running the world’s largest clean energy programme, with an aim of having 175 GW clean energy capacity by 2022. The country now has 38 GW of wind power and plans to add six GW of wind capacity by March 2022