A project of this size can provide electricity to approximately 20 thousand households and curb around 0.81 lakh tonnes of CO2 emissions per year. Suzlon will execute the project with a scope of supply, installation, and commissioning, and will also offer post-commissioning operation and maintenance services.

JP Chalasani, Chief Executive Officer, Suzlon Group said, “We are delighted to announce our second order with Integrum Energy Infrastructure Private Limited. Suzlon takes pride when valued customers like Integrum Energy, one of India’s fast-growing renewable energy Project Management companies trusts us with a repeat order. They have demonstrated their faith in our leading technology and comprehensive capabilities throughout the wind energy value chain. The Power generated from this project will be used for captive consumption, creating deeper penetration of renewable energy in India. Suzlon is committed to building a sustainable India by powering the domestic economy with green energy.”

Anand Lahoti, Founder and Chief Executive Officer of Integrum Energy Infrastructure Private Limited, said that they are committed to shaping a sustainable and carbon-neutral India. They are delighted to partner with Suzlon, a leading renewable energy solutions provider with reliable technology and a great track record in India. Suzlon’s ‘Made-in-India’ products complement their ideology of supporting ‘Aatmanirbhar Bharat’.

Suzlon turbines feature the time-tested Doubly Fed Induction Generator technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon’s R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with more than 20 GW of wind energy capacity installed across 17 countries. The Group has a diverse workforce of nearly 6,000 employees and is also India’s No. 1 wind energy service company with the largest service portfolio of over 14 GW of wind energy assets.

Suzlon is committed to building a sustainable India by powering the domestic economy with green energy. The project with Integrum Energy Infrastructure Private Limited is a testament to Suzlon’s contribution to the vision of Aatmanirbhar Bharat.

The post Suzlon secures 31.5 MW wind power project order from Integrum Energy Infrastructure Private Limited appeared first on NRI News.

ABIDJAN, IVORY COAST: The Board of Directors of the African Development Bank Group (www.AfDB.org) approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilizing about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period.

Inspired Evolution Investment Management is a well-established fund manager with more than 15 years of experience and a track record of deploying more than $310 million in renewable energy projects in African counties. The fund manager, through its predecessor funds, has delivered 21 renewable energy projects with a total generation capacity of 2 GW.

EVIII aims to broaden geographic and technology scope to incorporate North Africa as well as several SSA countries and decentralized energy business models as the key climate mitigation and energy transition. The Bank’s support will contribute to an additional 2,162MW of installed renewable power generation capacity, 1.8 million tons of CO2 emission savings, and green and sustainable growth across Africa by creating 2,480 full-time jobs, building on the track record of Evolution Funds I and II which generated about 1,309 jobs out of which 22% were women.

Vice President Kevin Kariuki of the African Development Bank’s Power, Energy, Climate Change and Green Growth Complex, said the Bank is committed to boosting its portfolio of renewable energy projects and encouraging private investment in renewable and efficient energy solutions.

“The Evolution Fund III is well placed to invest much-needed capital in long-term, low-carbon, and climate-resilient development pathways towards achieving a just, net-zero future for African countries,” Kariuki said.

The Bank’s investment in Evolution Fund III aligns with its High Five objectives, particularly, “Light Up and Power Africa” under its New Deal on Energy for Africa.

According to Wale Shonibare, Director of Energy Financial Solutions, Policy & Regulations, the Bank’s support for a private equity fund focused on promoting renewable energy in Africa, will assist regional member countries to achieve their Nationally Determined Contributions and Paris Agreement obligations.

Christopher Clarke, the Co-Managing Partner at Inspired Evolution, said “AfDB has been a consistent supporter of Inspired Evolution since 2010 and this third capital commitment evidences our trusted partner that has been established in the delivery of the AfDB climate goals for Africa.”

Wayne Keast, Co-Managing Partner at Inspired Evolution, added “AfDB’s investment validates our track record and sophisticated investment management approach to accelerating Africa’s clean energy transition.”

The African Development Bank and partners in the new fund will continue to provide growth capital and infrastructure equity to support renewable and sustainable energy and focus on decarbonization, decentralization, and digitalization as the key climate mitigation and energy transition strategies.

The post African Development Bank Invests $20 Million In Private Equity Fund Targeting Renewable Energy Projects In Sub-Saharan Africa appeared first on NRI News.