CleanMax Enviro Energy Solutions Ltd has signed a term sheet with Envision Energy India Ltd for the proposed acquisition of 1,550 MW of wind turbine generators (WTG), as per a regulatory filing.
The company’s risk management committee has sanctioned the execution of the term sheet, which includes the supply of 310 WTGs, each with a rated capacity of 5 MW. The arrangement will potentially enable CleanMax’s forthcoming wind energy projects.
Additionally, the term sheet comprises supervision and technical support for the installation and commissioning of the WTGs. The parties plan to execute the definitive agreements in stages, targeting to sign the final agreement by December 31, 2028.
According to a statement by the company, the proposed acquisition adds nearly 500 MW of capacity during the quarter. It added that the firm aims at least 1.5 GW of new capacity additions during the financial year.
Moreover, the company stated that it has shown the organisational capacity to add above 1.5 GW during this year, having added around 1.7 GW over the preceding 12 months.
