JUNE 20239TOP STORYGE VERNOVA TO SUPPLY 40 WIND TURBINE UNITS FOR 108 MW PROJECT IN TAMIL NADUNTPC CAN ACQUIRE STRANDED THERMAL POWER STATIONS INSTEAD OF FUNDING NEW PROJECTSThe 108-MW wind power project in Tamil Nadu by Amplus Solar would use 40 onshore wind turbines, according to GE Vernova, which will provide and commission them. In a statement, GE Vernova said that Amplus Solar has chosen them as the supplier of onshore wind turbines for the company's first wind farm, which would be built in Tamil Nadu.For this 108 MW wind power project, GE Vernova will provide and commission 40 of its 2.7-132 onshore wind turbines. With this deal, GE added more than 3 GW of orders for its 2.7 MW turbine in India, and it projected that the installed base of onshore wind in the nation would reach 5 GW by the beginning of 2024.By August 2024, Amplus Solar's wind farm will be operational. "GE has proven its expertise in India by putting in more than 50% of the nation's new wind capacity last year.Deepak Maloo, Regional Sales Leader for GE Vernova's Onshore Wind business in Asia Pacific, said, "We are grateful to Amplus Solar for entrusting us with their first wind farm and look forward to expanding our partnership as the company continues to build its renewable energy portfolio under the leadership of Petronas.GE will provide goods that were developed at the Technology Centre in Bengaluru, put together at the manufacturing facility in Pune, and whose blades were made at the Vadodara facility of LM Wind Power. IEEFA has claimed that strategic purchases and the subsequent resurrection of stranded thermal power facilities by the state-owned NTPC can aid banks in cleaning up their balance books. All stakeholders, including NTPC, would benefit more from purchasing and reviving stranded thermal power plants, according to the Institute for Energy Economics and Financial Analysis (IEEFA).The government has requested that NTPC expand 7 GW of thermal power capacity. "We find that the company (NTPC) can acquire 6.1 GW of stressed thermal assets through partnerships with Power Finance Corporation-REC and National Asset Reconstruction Company Limited with minimal investment...acquiring and subsequently reviving stranded thermal plants is a better option for all stakeholders," the IEEFA stated.The final group of stranded assets on banks' balance sheets will be eliminated through strategic acquisitions and the subsequent resurrection of stranded thermal power plants, according to the report. This will free up bank capital for investments in boosting renewable energy generation while addressing the nation's immediate power needs.Shantanu Srivastava, Sustainable Finance and Climate Risk Lead, South Asia, IEEFA, strategic acquisitions and subsequent resuscitation of the stranded power sector capacity already present in India can be a workable option to adding new thermal assets in light of energy security issues.
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