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A Report on Internship training Undergone at [RESPECTIVE NAME] Submitted in practical fulfillment of the Requirement for the award of the degree of BACHELOR OF COMMERCE IN CORPORATE SECRETARYSHIP Submitted by [NAME] Register No:

Department of corporate secretaryship [COLLEGE NAME] [PLACE] Batch 2007-2010



This is to certify that the project on internship training undergone at [RESPECTIVE NAME] In partial fulfillment for the award of degree of BACHELOR OF COMMERCE in CORPORATE SECRETARYSHIP by [NAME], register no: is a record of original work done by her.

Faculty guide

Head of the department, commerce


External Examiner



1. Executive Summary 2. Company Background 2.1 Sterling Group 2.2 Business Verticals 2.3 Key Milestones 2.4 WinWinD 2.4.1 WinWinD Oy 2.4.2 WinWinD power energy private Ltd. 2.4.3 Structure of WinWinD under Sterling Group 2.4.4 WinWinD Organizational Structure 2.4.5 WinWinD & MASDAR 3. Wind Power Energy – An Overview 3.1 Drivers for Wind Energy 3.1.1 Economic Advantages 3.1.2 Social Advantages 3.1.3 Environmental Advantages 3.2 Global Wind Power Scenario 3.2.1 Worldwide Installed Capacity 3.2.2 Increasing Growth Rates 3.3 Indian Wind Power Scenario 3.3.1 Potential of Wind Power Generation 3.3.2 Wind Power installation in India 3.4 Regulations & Policies 4. Product standard and certification 5. Project implementation plan Project Details 6. Utilization of the Generated Power 7. Wind Energy – Finance Overview 8. Wincare - O&M 9. Conclusion


1.Executive Summary INTRODUCTION: Sterling InfoTech Group (Sterling Group) promoted has diversified business interest in high growth sectors such as renewable energy, communication, agriculture, media, real estate, and entertainment. With a view to be a dominant player in the rapidly growing wind market, Sterling Group acquired 90% stake in Winwind Oy, a technology leader engaged in the design and manufacture of megawatt (WWD1) and multi-megawatt (WWD3) wind turbines generators (WTGs). After SIG's acquisition of controlling stake in Winwind Oy, Winwind Power Energy Private Limited (WPEPL) was incorporated in India as a 100% subsidiary of Winwind Oy. Winwind have been into Wind Energy business since last 9 years and offering end – end solution in the establishment of large scale reliable wind farms. In the establishment of large scale reliable wind farms in India, WPEPL offers end-to-end solutions and is playing turn key developer role by offering comprehensive services encompassing acquisition of land in high wind potential zones across the country, manufacture & supply of WTGs, its installation & commissioning, grid creation/enhancement, efficient lifetime operation & maintenance, and carbon credit services. WWD1 is ideal WTG for areas with low and medium wind speed and weak grid conditions. Winwind products are based on highly reliable technology with modern advanced planetary gear solution and variable speed synchronous permanent magnet generator. WinWind’s superior technology combines the


reliability of a direct drive and the compactness of traditionally high speed gear system and offers high availability and energy efficiency even in lower wind speed conditions WPEPL has planned to develop large scale wind farm totaling capacity of above 204 MW in coming years which will cater India as well as global investors and are committed to deliver the best services to our customers as per its unique business model

WinWinD has already identified wind potential site for its new project in Tamil Nadu with capacity of 110 MW, Gujarat with capacity of 20 MW, Maharashtra with capacity of 25 MW and Karnataka with capacity of 50 MW in India. Normally above mentioned sites are placed in remote location.

To executive large scale project, WPEPL has established a state-of-the-art WTG assembly facility for the production of highly reliable nacelles and hubs. It is located in 26 acres of land near Chennai, Tamil Nadu. WPEPL also have our blade manufacturing facility in about 40 acres of land adjacent to the assembly unit

After commissioning project, Project will be handed over to O&M team. We have highly experienced team Win care to handle and offer O&M services to our customers for whole project life.


2. Company Background 2.1 Sterling Group Siva Ventures Limited is a 100% subsidiary of Sterling Infotech Limited which is the holding company of the Sterling Infotech Group (Sterling Group). Sterling Group, promoted by Mr.C.Sivasankaran, is a USD 3 Bn Group with diversified business interests in high growth sectors including communication, media, renewable energy, realty, agriculture and food & wellness. Over the past two and a half decades, Sterling Group has grown rapidly in size and stature into a professionally managed Group. The Group through Siva Ventures Limited acquired a controlling stake (90%) in Finland based WinWinD Oy, manufacturer of highly reliable and technologically advanced megawatt and multi-megawatt class wind turbine generators.

Promoter Background SVL (formerly Aircel Televentures Limited), incorporated in 1986, was the holding company for Aircel Limited. Aircel Limited along with its subsidiaries Aircel Cellular Limited and Dishnet Wireless Limited were operating in 9 telecom circles in the southern, northern and north eastern parts of India. The entire stake in Aircel was divested to Maxis Communications Berhad, a Malaysian telecom major in March 2006 at a valuation of USD 1.5 Bn. As per the Memorandum and Articles of Association, the company’s business activities include –  Infrastructure projects and facilities including public facility projects like roads, highway, airport, software development park complexes, electricity


generation and distribution, projects for providing telecommunications including basic telephony, internet telephony, Cellular Mobile Telephone Services, etc.  Marketing and dealing in fuels, fuel materials bio-diesel, bio-fuel, bio-gas, ethanol and other petroleum and mineral oil products.  Marketing and dealing in Real Estate and development of properties of all kinds in all its branches. SVL as an investment organization seeks to pick up equity investments in various sectors either by itself or through its wholly-owned subsidiaries both in India and overseas. SVL invests in various identified sunrise sectors besides making strategic/financial investments in listed companies. Some of its recent investments include 15% stake in Sahara One (Media and entertainment channel), 15% stake in Best & Crompton (Engineering, procurement and project management company). Besides these investments, SVL has equity investments/structured investments in various other unlisted companies. SVL through its wholly owned subsidiaries both in India and abroad focuses its energies and attention to identify viable investment opportunities, which optimizes shareholders’ returns. SVL is presently pursuing investment opportunities in the renewable energy (including wind energy, fuel ethanol), real estate and EPC activities both in India and abroad. Towards pursuing its objectives in entering into the renewable energy segment, SVL, through their foreign subsidiaries has invested in WinWinD Oy (manufacturers of highly reliable and technologically advanced megawatt and multi-megawatt wind turbine generators), and in E85 Inc., (3 Ethanol projects in USA with a total investment of USD 800 Mn),


2.2 Business Verticals

Siva ventures Ltd. SVL is a wholly-owned subsidiary and the principal investment arm of Sterling Infotech Group (SIG or the Group). Over the past decade, SVL has directly or through subsidiaries made strategic investments in diverse sectors and has also profitably divested many of them.


WinWinD To a company that identifies potential markets, there is always success in the air. With a view to storm into the renewable energy arena, SIG has acquired a controlling stake in Finland based WinWinD - a pioneer in the manufacture of wind turbines and a technology leader in the wind energy space. WinWinD supplies one and three Megawatt wind turbines based on variable speed technology. The company focuses on tapping the enormous potential in the rapidly growing European, South American and Asian markets. WinWinD has developed the one and three megawatt wind turbine. The most significant benefits obtained have been operating reliability and high availability.


Sterling Projects and engineering Ltd. Propelled by an irresistible urge to imprint a unique image for itself, Sterling Projects and Engineering Limited focuses on turnkey program management, project management, engineering, procurement, construction management and

construction services in various sectors such as Telecommunication, Renewable Energies and Bio Fuels. The company has set very high standards for itself and takes every measure for achieving its goal of becoming a trusted global project organization. SPEL provides exceptional expertise and technical knowledge across every phase of a project. It develops, executes and maintains capital projects on schedule, within budget, and with operational excellence.

JBUS Sterling Group is leveraging its strong India base to focus on the exponential growth of the shipping industry in the Asian region. JBUS is a Norway-headquartered shipping company with a fleet of over 45 owned and long-term chartered vessels with an aggregate capacity of over 2 million DWT. The company's fleet of owned and chartered vessels consists of a balanced mix of tankers, chemical carriers and bulk carriers.


ETH Creating phenomenal transformation requires an incredible vision and an unswerving endeavor. And such transformations across the latitudes and longitudes of the globe occur only once in a while. One such remarkable phenomenon is created by ETH, a name that has brought about a significant impact in the education and telecom space in the capacity of software solutions and services provider. The company’s strength is a beautiful blend of business and technological innovation. An enviable combination that can only lead to one destination called success.

ETH has imprinted a vivid image of itself in delivering to customers’ solutions in the areas of e-learning, educational content, back-end management software for telecom industry and other initiatives involving ICT services for Schools and Higher Educational institutions in India.

Sterling Agro Products Processing Private Limited (SAPPL) The secret of success in business is to identify potential, seize the opportunity and deliver quality of the highest order. This is what SIG has been doing successfully ever since its inception. A perfect example for this is SAPPL (Sterling Agro-Products Processing Pvt Ltd). Commencing its operations in the year 1997, the company has systematically grown and is today one of the foremost names in its industry. A case in point for this is SAPPL’s export of gherkin (tender cucumbers). The company recognized the immense opportunity of gherkin in the world market. Quickly capitalizing on this, SAPPL swung into action and the result is that today the company has emerged as one of the leading exporters of gherkin in India. Driven by a dedicated team of thorough professionals, and boosted by an steadfast vision to excel, SAPPL is well and truly on the way to imprint a significant image for itself in the agro industry.


AIWO Limited To all those who crave to enjoy life to its fullest, aiwo is truly a boon. Now, what does 'aiwo' mean? In various oriental dialects it means "love thyself".


Well, aiwo is truly a tribute to the 'better self' in everyone ... a perfectly natural way to relish life through healthy food, balanced diet and right exercises. 2.3 Key Milestones Presented below are the milestone events in the history of Sterling Group which demonstrates the management strength and the ability to successfully build a business empire. 1999 – Memorable year for Sterling Group as, Dishnet (DSL services), became pioneer in Broadband service in India. Besides, Aircel (mobile telephony services) commenced operations in RoTN Circle. 2000 - In the Group’s ceaseless efforts in the area of education got rewarded as Sterling software and education business was bestowed with ISO Certification 9000: 2000 from Det Norske Veritas Management System Certification (DNV), Netherlands. 2002 - One of the noteworthy traits of Sterling Group is its incessant commitment to sustain the highest quality in all its area of activities. This is evident from the fact that in 2002, Dishnet won ―Infrastructure Excellence Award-Telecom‖ from Wisitex Foundation. 2003 - Yet another giant leap as the Group acquired RPG Cellular Service under Aircel brand. And a mini revolution of sorts by the Group as AIWO commenced its operations, with a new concept of ―certified wellness‖ through its specialized restaurants and SPA. 2004 – Dishnet rolled out robust, cost - effective and secure IP VPN networking system over 42 cities. DSL Services business was sold as an 'on going' concern


to VSNL. The Group took yet another distinguished step in the food industry as it acquired Barista (rated as one of the best brand in India) from Tata Group. Aircel was rated No.1 in customer satisfaction according to voice & Data study 2004. 2005 - Aircel acquired licenses for 9 telecom circles across India with a subscriber base of 2.5 million and had around 1800 towers on air. The Group with its in-house expertise in vendor negotiation and project management started rolling out end-to-end services for telecom companies (Tata Teleservices) 2006 - A year studded with massive business activities for the Group as it progressed on its success journey with confidence, verve and dedication.  Vended telecom business to Maxis, Malaysian telecom major at a valuation of USD 1.5 Bn  Invested USD 27 Mn in Sahara One Media & Entertainment for 14.98% stake.  Invested controlling stake in WinWinD Oy  Established the Ethanol business units in USA and India 2007 - Acquired a controlling stake in Finland based WinWinD 2008 - Made a foray into the shipping and logistic company by acquiring Norwegian shipping firm J.B. Ugland Shipping. The Group therefore has a robust management strength and unique proposition to succeed in any ventures/business which has been successfully demonstrated in all the past occasions.


2.4 WinWinD 2.4.1 WinWinD Oy WinWinD Oy, based in Finland was established in the year 2000. The founding father of the company is Jouko Tiuraniemi who has 30 years experience in the field of energy, and has worked on many different design projects in power transfer and hydropower. WinWinD's history began when Jouko Tiuraniemi completed a research report on wind power for Oulu Energy in 1995. The experience prompted Tiuraniemi to start thinking about a new, highly efficient wind turbine. He realized that the key to success was to create a turbine that would be technically superior. In 1997, PVO-Engineering Oy joined the development work, as did the chief designer, Georg Böhmeke, who had 20 years of experience in the German wind power industry. The company designs and manufactures highly reliable, grid friendly megawatt and multi megawatt wind turbine generators (WTG) based on advanced planetary gear solution and variable speed synchronous permanent magnet generator. WinWinD’ superior technology combines the reliability of a direct drive and the compactness of traditionally high speed gear system and offers high availability and energy efficiency even in lower wind speed conditions. WinWinD product portfolio includes 1 MW (WWD1) and 3 MW (WWD3) wind turbine generators. WWD1 has three different variants namely 56 m, 60 m and 64 m rotor diameter and hub heights of 56 m, 66 m and 70 m. WWD3 has two variants namely 90 m and 100 m rotor diameter and hub heights of 90 m and 100 m. WWD1 is manufactured in Oulu and WWD3 is manufactured in


Helsinki facilities. The total manufacturing capacity of WinWinD Oy is nearly 400 MW (100 units each). WinWinD Oy has so far successfully installed over 85 MW of wind power capacity spread across the different terrains of Europe, and has been successfully operating with zero track record of failure/accident. WinWinD Oy has currently contracted projects of over 175 MW across Europe with more than 400 MW in pipeline. The company has firm footprints across Europe in discerning markets such as Finland, Sweden, Estonia, Portugal, France, and Czech Republic and currently targeting other high growth markets. WinWinD Oy also has offices in Portugal and Estonia apart from its office in Finland. WinWinD’s megawatt and multi Megawatt WTG’s are in successful operations across Europe even in most difficult terrain and adverse climatic conditions (WinWinD has machines operational even in the arctic regions).WinWinD is in fact the only company in the world to have a stable operating turbine Model for the past 9 years and expected to be so, for the next decade. WinWinD is one of those companies in the world that has not experienced an episode or accident of machine failure. WinWinD Oy has developed a modern and innovative wind turbine to run without any major repairs throughout its long operating life. The design team, based on over 20 years know-how in the wind industry, has developed the design with close co-operation with experienced world-class component manufacturers resulting in a product at the cutting edge of technology. The core philosophy of WinWinD products includes customer satisfaction and the operational reliability, to achieve win-win cooperation for both the company and its Customers.


We would like to introduce ourselves as a Sterling InfoTech Group, more than 2 billion dollar global conglomerate with varied interests in potential business sector including Renewable Energy, Communication, Media, Real state etc. 2.4.2 WinWinD power energy private Ltd. After SIG's acquisition of controlling stake in WinWinD Oy, WinWinD Power Energy Private Limited (WPEPL) was incorporated in India as a 100% subsidiary of WinWinD Oy. Keeping in mind the vast potential of wind power in India and the presence of the Sterling Group, WPEPL has been established with a goal of making WinWinD a global leader and reaching out to markets in Asia Pacific region. WPEPL is setting up its state of the art factory near Chennai; this facility will have enough installed capacity to cater to the Indian market and the international market. The facility will house the assembly unit for the 1 MW and the 3 MW turbines. The facility will also house the blade production facility of the 1 MW and the 3 MW turbines. The business model of WPEPL Offer comprehensive services encompassing acquisition of land in high wind potential zones across the country, manufacture & supply of WTGs, its installation & commissioning, grid creation/enhancement, efficient lifetime operation & maintenance, and carbon credit services. WPEPL is planning to develop large scale wind farm in coming years which will cater India as well as global investors and are committed to deliver the best services to our customers. WPEPL’s product portfolio for India includes 1 megawatt (WWD1) & 3 megawatt (WWD3) based on advanced planetary gear

system and a low variable speed synchronous permanent magnet generator. This uniquely designed system combines the reliability of a direct drive and the compactness of the traditional gear system thereby enhancing availability and improving efficiency in operations.WPEPL, initially intends to promote WWD1 machines in India and introduce its utility class multi-megawatt turbine (WWD3). WWD1 turbine designs are certified by Germanischer Lloyd (GL) with statement of compliance and design certificate reports for 56 m and 60 m rotor diameter models. WPEPL is currently working with CWET for enlistment in the ―Revised list of models and manufacturers‖ (RLMM). WPEPL focuses on reliability and efficiency, as well as ease of maintenance, which results in the lowest production costs during the entire lifespan of the turbine. This is achieved by the innovative WWD wind turbine which is based on a planetary gear and a low-speed synchronous permanent magnet generator.


2.4.4 Structure of WinWinD under Sterling Group

Siva Ventures Ltd.


Industry Investment Oy 7.6%

Avis Ventures Ltd.




WinWinD Oy (Finland)

100% WinWinD Power Energy Private Ltd (WPEPL) India





Wintuuli Oy (Finland)

OU WinWinD (Estonia)

WinWinD Iberica (Portugal)

Harbin Hafei WinWinD (China)


2.4.4 WinWinD Organizational Structure


2.4.5 WinWinD & MASDAR Masdar, Abu Dhabi’s multi-billion dollar renewable energy and clean technology initiative has bought a significant equity stake in WinWinD Oy. This strategic move highlights Masdar’s commitment to be a key player in the wind energy markets. This investment signals Masdar’s strategy to lead in all forms of renewable energy. It allows Masdar to move rapidly into the worldwide wind market enabling it to diversify its renewable energy asset portfolio.

Masdar will work in partnership with the management of WinWinD and its majority owner, Sterling Infotech Group to accelerate WinWinD’s geographic expansion in Europe, India and the Middle East

3. Wind Power Energy – An Overview Winds are caused by rotation of the earth and heating of the atmosphere by the sun. Due to the heating of the air at the equatorial regions, the air becomes lighter and starts to rise, and at the poles the cold air starts sinking. The rising air at the equator moves northward and southward. Differential heating of sea causes more minor changes in the flow of air. The nature of the terrain, ranging from mountains and valleys to more local obstacles such as buildings and trees, also has an important effect on the wind. The power in the wind is proportional to the cube of the wind speed or velocity. It is therefore essential to have detailed knowledge of the wind and its characteristics, if the performance of wind turbines is to be estimated

accurately. Various parameters need to be known of the wind energy are mean wind speed, directional data and velocity variations periodically daily/yearly/monthly and height of the anemometer. These parameters are used to assess the performance and economics of the wind plant. Harnessing of wind energy could play a significant role in the energy mix of a region. Windmills have been used for centuries to grind grain and pump water in rural areas. Wind energy is renewable and environmentally benign. It has the advantage of being harnessed locally for applications in rural and remote areas. Wind driven electric generators could be utilized as an independent power source, and for purposes of augmenting the electricity supply from grids. In densely populated taluks, decentralized production of electricity would help local industries, especially seasonal agro-processing industries, etc. The extent to which wind can be exploited as a source of energy depends on the probability density of occurrence different speeds. To optimize the design of a wind energy device, data on speed range over which the device must operate to maximize energy extractions are required, which requires the knowledge of frequency distribution of the wind speed. Data on mean monthly and annual wind speeds for a long time (30 - 50 years) are available at meteorological observatories and the data on frequency distribution is available from various locations. The total amount of economically extractable power available from the wind is considerably more than present human power use from all sources. An estimated 72 TW of wind power on the Earth potentially can be commercially viable, compared to about 15 TW average global power consumption from all

sources in 2005. Not all the energy of the wind flowing past a given point can be recovered. 3.1 Drivers for Wind Energy

The staggering growth of the global wind energy markets are being driven by a number of factors, including the wider context of energy supply and demand, the rising profile of environmental issues, especially climate change, and the impressive improvements of the technology itself.

Environmental concerns The science is clear: if we are to avoid the worst ravages of climate change, global emissions need to start declining before 2020.The power sector is not the only culprit when it comes to climate change, but it is the largest source of emissions, accounting for about 40% of CO2 and 25% of overall emissions.

Wind energy is the only power generation technology that will be able to make a substantial difference in CO2 emissions in the crucial timeframe up to 2020. It is quick to install, and on track to saving 10 billion tons of CO2 by 2020.

Security of Supply Global demand for energy is increasing at a breathtaking pace, which will require significant investment in new power generation capacity and grid infrastructure. Just as energy demand continues to soar, supplies of fossil fuels are dwindling and prices are at their most volatile.


Wind energy, however, is a massive indigenous power source with is available virtually everywhere in the world. There are no fuel costs, no geo-political risk and no supply import dependency.

Economic considerations Wind energy makes sound economic sense. In contrast to other generation sources, the price for the fuel needed over the total lifetime of a wind turbine is well known: it is zero. This takes away a substantial part of the investor’s risk.

At many sites, wind power is already competitive with new-built conventional technologies and in some cases much cheaper. When taking into account the price of carbon, wind power is even more attractive.

Job creation and regional economic development are also key factors in economic considerations around wind power. Wind power available in the atmosphere is much greater than current world energy consumption. The most comprehensive study to found the potential of wind power on land and near-shore to be 72 TW(Trillion Watts), equivalent to 54,000 MToE (million tons of oil equivalent) per year, or over five times the world's current energy use in all forms. The practical limit to exploitation of wind power will be set by economic and environmental factors, since the resource available is far larger than any practical means to develop it. Wind power has mainly local effects since it consumes no fuel, and emits no air pollution, unlike fossil fuel power sources.


Due to the low energy density of wind several hundred wind turbines are required to replace a conventional power station. 3.1.1 Economic Advantages  Revitalizes Rural Economies: Wind energy can diversify the economies of rural communities, adding to the tax base and providing new types of income. Wind turbines can add a new source of property taxes in rural areas that otherwise have a hard time attracting new industry. Each 100 MW of wind development in southwest Minnesota has generated about $1 million per year in property tax revenue and about $250,000 per year in direct lease payments to landowners.  Fewer subsidies: All energy systems are subsidized, and wind is no exception. However, wind receives considerably less than other forms of energy. According to Renewable Energy World magazine, conventional energy receives US$300 billion in subsidies per year, while renewable energy has received less than US$20 billion of tax-payers money in the last 30 years.  Free Fuel: Unlike other forms of electrical generation where fuel is shipped to a processing plant, wind energy generates electricity at the source of fuel. Wind is a native fuel that does not need to be mined or transported, taking two expensive aspects out of long-term energy costs.  Price Stability: The price of electricity from fossil fuels and nuclear power can fluctuate greatly due to highly variable mining and transportation costs. Wind can help buffer these costs because the price of fuel is fixed and free.


 Promotes Cost-Effective Energy Production: The cost of wind-generated electricity has fallen from nearly 40¢ per kWh in the early 1980s to 2.55¢ per kWh today depending on wind speed and project size.  Creates Jobs: Wind energy projects create new short and long term jobs. Related employment ranges from meteorologists and surveyors to structural engineers, assembly workers, lawyers, bankers, and technicians. Wind energy creates 30% more jobs than a coal plant and 66% more than a nuclear power plant per unit of energy generated. 3.1.2 Social Advantages  National Security/Energy Independence: Wind turbines diversify our energy portfolio and reduce our dependence on foreign fossil fuel. Wind energy is homegrown electricity, and can help control spikes in fossil fuel cost. Distributed generation facilities, like many community wind projects, provide a safeguard against potential terrorist threats to power plants.  Supports Agriculture: It is not often a new crop emerges from thin air. Wind turbines can be installed amid cropland without interfering with people, livestock, or production.  Local Ownership: A significant contribution to the worldwide energy mix can be made by small clusters of turbines or even single turbines, operated by local landowners and small businesses. Developing local sources of electricity means we import less fuel from other states, regions, and nations. It also means our energy dollars are plowed back into the local economy.


3.1.3 Environmental Advantages  Clean Water: Turbines produce no particulate emissions that contribute to mercury contamination in our lakes and streams. Wind energy also conserves water resources. For example, producing the same amount of electricity can take about 600 times more water with nuclear power than wind, and about 500 times more water with coal than wind.  Clean Air: Other sources of electricity produce harmful particulate emissions which contribute to global climate change and acid rain. Wind energy is pollution free.  Mining & Transportation: Harvesting the wind preserves our resources because there no need for destructive resource mining or fuel transportation to a processing facility.  Land Preservation: Wind farms are spaced over a large geographic area, but their actual "footprint" covers only a small portion of the land resulting in a minimum impact on crop production or livestock grazing. Large buildings cannot be built near the turbine, thus wind farms preserve open space.

3.2 Global Wind Power Scenario Global wind capacity grew by 29 percent in 2008 with the United States surpassing Germany to become the world's leading wind power generator, Worldwatch Institute said. The Washington-based research organization said on Thursday that global wind capacity rose by over 27,000 megawatts (MW), or enough to power around 27 million homes, to some 120,798 MW last year.


Wind now provides 1.5 percent of the world's energy demand, up from 0.1 percent in 1997.  U.S. wind capacity increased by 50 percent to 25,170 MW, or 21 percent of world capacity.  In Europe, wind represented the leading source of new power capacity, with 8,877 MW installed last year. This was 28 percent more than new natural gas capacity and over 10 times more than new coal, World watch said. Europe now generates 65,946 MW of wind power, or 55 percent of global capacity.  Germany still leads the region, generating 23,903 MW of wind power, but it saw new installations drop slightly in 2008.  In Asia, China ranked second globally in new capacity last year, adding some 6,300 MW to bring its total to over 12,200 MW. The Chinese government has now surpassed its 2010 goal of 10,000 megawatts of installed wind power and a senior energy official said in April the country will have 100,000 MW in place by 2020.  Fang Junshi, head of the coal department of the National Energy Administration, told a conference in Beijing that China's annual wind power growth rate will be about 20 percent, enough to outpace fastgrowing nuclear energy.  The wind sector became a global job generator and has created 440,000 jobs worldwide.


3.2.1 Worldwide Installed Capacity

Wind energy has continued the worldwide success story as the most dynamically growing energy source again in the year 2008. Since 2005, global wind installations more than doubled. They reached 121,188 MW, after 59,024 MW in 2005, 74,151 MW in 2006, and 93,927 MW in 2007. The turnover of the wind sector worldwide reached 40 billion € in the year 2008.

The market for new wind turbines showed a 42 % increase and reached an overall size of 27,261 MW, after 19,776 MW in 2007 and 15,127 MW in the year 2006. Ten years ago, the market for new wind turbines had a size of 2,187 MW, less than one tenth of the size in 2008. In comparison, no new nuclear reactor started operation in 2008, according to the International Atomic Energy Agency. • Worldwide capacity reaches 121,188 MW, out of which 27,261 MW were added in 2008. • Wind energy continued its growth in 2008 at an increased rate of 29 %. • All wind turbines installed by the end of 2008 worldwide are generating 260 TWh per annum, equaling more than 1.5 % of the global electricity consumption. • The wind sector represented in 2008 a turnover of 40 billion. Wind power installations world-wide have crossed 86.3 GW, producing over 52 TWH of energy annually. The World Energy Council has estimated that, by 2010 A.D., the world wind power capacity can increase to 70 GW under the


current policy scenario, and even 100 GW under an ecologically driven scenario. This development goes hand in hand with a general diversification process which can be watched with today 16 markets having installations of more than 1,000 MW, compared with 13 countries one year ago. 32 countries have more than 100 MW installed, compared with 24 countries three years ago.

3.2.2 Increasing Growth Rates

At its current growth rate, global installed wind power capacity will top 100,000 megawatts in March 2008. In 2007, wind power capacity increased by a record-breaking 20,000 megawatts, bringing the world total to 94,100 megawatts—enough to satisfy the residential electricity needs of 150 million people. Driven by concerns regarding climate change and energy security, one in every three countries now generates a portion of its electricity from wind, with 13 countries each exceeding 1,000 megawatts of installed wind electricitygenerating capacity.

An important indicator for the vitality of the wind market is the growth rate in relation to the installed capacity of the previous year. The growth rate went up steadily since the year 2004, reaching 29.0 % in 2008, after 26.6 % in 2007, 25.6 % in the year 2006 and 23.8 % in 2005.


However, this increase in the average growth rate is mainly due to the fact that the two biggest markets showed growth rates far above the average: USA 50 % and China 107 %. Bulgaria showed the highest growth rate with 177 %, however, starting from a low level. Also Australia, Poland, Turkey and Ireland showed a dynamic growth far above the average.

3.3 Indian Wind Power Scenario The electricity sector in India is predominantly controlled by Government of India's public sector undertakings (PSUs). Major PSUs involved in the generation of electricity include National Thermal Power Corporation (NTPC), National Hydroelectric Power Corporation (NHPC) and Nuclear Power Corporation of India (NPCI). Besides PSUs, several state-level corporations, such as Maharashtra State Electricity Board (MSEB), are also involved in the


generation of electricity. The transmission and distribution is managed by the State Electricity Boards (SEBs) and private companies. India is world's 6th largest energy consumer, accounting for 3.4% of global energy consumption. Due to India's economic rise, the demand for energy has grown at an average of 3.6% per annum over the past 30 years. More than 50% of India's commercial energy demand is met through the country's vast coal reserves. About 76% of the electricity consumed in India is generated by thermal power plants, 21% by hydroelectric power plants and 4% by nuclear power plants. The country has also invested heavily in recent years on renewable sources of energy such as wind energy. In March 2009, the installed power generation capacity of India stood at 147,000 MW while the per capita power consumption stood at 612 Kwh The country's annual power production increased from about 190 billion Kwh in 1986 to more than 680 billion Kwh in 2006 The Indian government has set an ambitious target to add approximately 78,000 MW of installed generation capacity by 2012. The total demand for electricity in India is expected to cross 950,000 MW by 2030. Electricity losses in India during transmission and distribution are extremely high and vary between 30 to 45%. In 2004-05, electricity demand outstripped supply by 7-11%. Due to shortage of electricity, power cuts are common throughout India and this has adversely effected the country's economic growth. Theft of electricity, common in most parts of urban India, amounts to 1.5% of India's GDP.


Despite an ambitious rural electrification program, some 400 million Indians still have no access to electricity. While 80 percent of Indian villages have at least an electricity line, just 44 percent of rural households have access to electricity. According to a sample of 97,882 households in 2002, electricity was the main source of lighting for 53% of rural households compared to 36% in 1993. Multi Commodity Exchange has sought permission to offer electricity future markets. 3.3.1 Potential of Wind Power Generation

In the early 1980s, the Indian government established the Ministry of NonConventional Energy Sources (MNES) to encourage diversification of the country’s energy supply, and satisfy the increasing energy demand of a rapidly growing economy. In 2006, this ministry was renamed the Ministry of New and Renewable Energy (MNRE).

The total potential for wind power in India was first estimated by the Centre for Wind Energy Technology (CWET) at around 45 GW. This figure was also adopted by the government as the official estimate, following a comprehensive wind mapping exercise initiated by the MNRE, which established a countrywide network of 553 wind monitoring stations in 25 Indian States.

This effort made it possible to assess the national wind potential and identify suitable areas for harnessing wind power for commercial use. However, the wind measurements were carried out at lower hub heights. At heights of 50-60 meters, the Indian Wind Turbine Manufacturers Association (IWTMA) estimates that the potential for wind development in India is around 65-70 GW.


Steady market growth for wind, Wind energy is continuing to grow steadily in India. In 2008, 1,800 MW of new wind generating capacity was installed, taking the cumulative figure up to more than 9.6 GW. This represents an annual growth of 22%. Wind power in India has been concentrated in a few regions, especially the southern state of Tamil Nadu, which maintains its position as the state with the largest wind power installation, with 4,118 MW installed at the end of 2008, representing 44% of India’s total wind capacity.

This is beginning to change as other states, including Maharashtra, Gujarat, Rajasthan and Karnataka, West Bengal, Madhya Pradesh and Andhra Pradesh start to catch up, partly driven by new policy measures, as in Maharashtra and Gujarat. As a result, wind farms can be seen under construction all across the country, from the coastal plains to the hilly hinterland and sandy deserts. The Indian government envisages an annual capacity addition of up to 2,000 MW in the coming years. 3.3.2 Wind Power installation in India As of November 2008 the installed capacity of wind power in India was 9587.14 MW, mainly spread across Tamil Nadu (4132.72 MW), Maharashtra (1837.85 MW), Karnataka (1184.45 MW), Rajasthan (670.97 MW), Gujarat (1432.71 MW), Andhra Pradesh (122.45 MW), Madhya Pradesh (187.69 MW), Kerala (23.00 MW), West Bengal (1.10 MW), other states (3.20 MW). It is estimated that 6,000 MW of additional wind power capacity will be installed in India by 2012. Wind power accounts for 6% of India's total installed power capacity, and it generates 1.6% of the country's power.


Wind Power Installed Capacity in India – Year Wise

Supply Constrains due to quality issues of few players

Today, we have a wind power installed capacity of 992 MW in the country, out of which about 940 MW is accounted for by commercial installations. About 3.5 billion units of electricity have been fed to the grid so far. A good local production base for wind turbines now exists in the country, with 15 manufacturing companies active in this sector. The government has introduced a package of incentives which includes tax concessions such as 100% accelerated depreciation, tax holidays for power generation projects, soft loans, customs and excise duty relief’s, liberalized foreign investment procedures, etc.


3.4 Regulations & Policies Tamil Nadu is in the forefront in the country in the field of Wind Power Generation. As a result of the well conceived policies announced and the facilities offered by the Government of Tamil Nadu for harnessing the vast wind potential in Tamil Nadu, the generation of power by means of Wind Electric Generators has emerged as a viable and cost effective technology. Some of the National Level achievements made by Tamil Nadu are given below:  Tamil Nadu ranks first in the country with the installation with a total capacity of 4132.72 MW as on the end of 2008.  The first private sector wind farm of the country was set up in Tamil Nadu during 1990  45% of the National Installed capacity of the Wind farms has been contributed by Tamil Nadu.  The wind farms in Tamil Nadu have generated 26748 million units of electricity up to 31.3.2008 and fed to the Tamil Nadu Electricity Board grid. The policies and facilities offered by Central and State Governments to promote Wind Power generation are given below. 4. Product standard and certification WinWinD turbines designs are certified by Germanischer Llyod (GL) with statement of compliance & certificate reports for 60m rotor diameter & are successfully operating across Europe even in difficult terrains & adverse climatic conditions.


In India, approval from CWET (Centre for Wind Energy Technology) is mandatory for the manufacturing & assembling of wind turbine generators. WinWinD is in the process of getting this approval. 5. Project implementation plan Project Details One of the major functions in the generation of the electricity through wind power is the identification of high wind potential locations. A lot depends on the kind of wind patterns in the area that is chosen for the development of the Wind farm. Furthering on its Promise WinWinD which is always working for the best interests for its customers has already identified some potential areas for the development of the wind farm. Since the generation capacity for a land depends upon the area acquired (as there is always a minimum land required for efficient operation of the wind turbine), the potential sites identified by WinWinD amount to a total of 205 MW, with the generation capacity varying from site to site. WinWinD’s goal is to provide a complete end-to-end solution to its customers, this is done with the help of the O&M facility that is being provided by the company. Once the turbine is commissioned it is handed over to the O&M department that takes care of the smooth operation of the wind turbines so that our customers don’t have to bother about anything. In order to provide better service to its customers the company is establishing a state of the art WTG assembly facility for the production of highly reliable nacelles and hubs. It is located in 26 acres of land near Chennai, Tamil Nadu. We also have our blade manufacturing facility in about 40 acres of land adjacent to the assembly

unit. The facilities has been advantageously located in the vicinity of Chennai, Tamil Nadu with strategic access to sea ports and well developed highways facilitating transportation and logistics of heavy engineering equipments and goods/activities. The above facilities have a production capacity of 8 nacelles/hubs per day and capacity of 4 sets of blades (12 blades) per day. WPEPL has executed technology transfer agreement with WINWIND Oy for assembly of hubs nacelles in India. The above mentioned facilities are using the latest manufacturing technologies and practices and have the required tools and machinery to allow full testing of the wind turbines. When the full capacity is in place, WPEPL expects to cater their service to global market as well as local requirements


Flow chart- Project Execution

Land Acquisition process & Availability of wind

Micrositing and planning & serving NOC and Safety certificate

Approach road formation/VCB and metering yard construction

Foundation casting & WTG delivery, Tower delivery & Blades delivery to the site

Machine erection & 11/33 KV Overhead line installation

Pre commissioning of WTG

VCB and 11/33 KV line charging Commissioning of WTG & Serving PPA and Commissioning certificate

Hand over wind Farm to the O&M team


6.4 Utilization of the Generated Power The selling/purchase rate would however vary for three different mode of use/sale of wind energy:  Captive Consumption For Captive consumption, the credit of energy would be provided as per Time of the Day (TOD) metering and the financial benefit shall be according to prevailing TOD tariff. The wheeling charge however shall be determined by Electricity Regulatory Commission (ERC).  Third Party Sale For Third party sale the credit of energy would be provided as per Time of the Day (TOD) metering and the rate can be mutually decided by buyer and seller and need not be approved by ERC who would however decide the wheeling charges and surcharge if any. Applicability of Open Access norm needs to be clearly understood.  Sale to Utility The selling/purchase rate for sale to utility needs to be determined by ERC who would look after the interest of both producer and consumer

7. Wind Energy – Finance Overview Concerns about energy security and climate change notwithstanding, investments in renewable energy projects are rising globally. Investors are


funding both the installed renewable capacities as well as manufacturing capacities for renewable equipments. India is also part of this exciting action. So far much of India’s renewable growth has been financed domestically and conservatively. Majority of financing has been asset financing in the area of wind where captive power generators have been investing to expand windmanufacturing capacity.

For a long time, domestic banks were shy to lend to renewable sector. There were perceived technological risks as well as risks associated with lack of fuel supply arrangement in the case of biomass and municipal waste. But thanks to growing awareness, government’s changing priorities and the inevitability of renewable to supplement India’s energy mix, the banks and increasingly funding these projects.

Especially in the wind sector, the shift in the attitude of financiers is reflected in elongated maturities and tenors of loans and lower borrowing costs. Also, besides wind, which now enjoys a structured plain vanilla commoditized based financing; financiers are broadening their exposure to other renewable sectors and energy efficiency projects.

Venture capital and private equity firms are also viewing renewable as an exciting opportunity. Besides, the RE companies are testing the IPO route and M&A activity is on an upsurge.

On top of the financing spectrum is IREDA, the Indian Renewable Energy Development Agency, an apex nodal agency for renewable energy development

in India and a funding arm of the Ministry of New and Renewable Energy. The other government agencies that actively fund renewable energy projects are Power Finance Corporation and Rural Electrification Corporation. The multilateral agencies such as the World Bank, World Bank’s private sector arm International Finance Corporation, KfW and the Asian Development Bank have also stepped up their assistance to this sector in the last few years.

Prominent domestic banks that fund renewable projects are IDBI, ICICI, IFCI, SBI, and PNB among others. Foreign banks such as Standard Chartered, ABN Amro and Rabo Bank are also focused on renewable financing. There are also regional localized banks such as that also provide micro credit facilities for stand-alone units. General Eligibility Criteria for Renewable Energy Loans Applicants

- Public, Private Ltd companies, NBFCs and registered Societies - Individuals, Proprietary and Partnership firms (with applicable conditions) - State Electricity Boards which are restructured or in the process of restructuring and eligible to borrow loan from REC/PFC


- Profit making companies with no accumulated losses. - Debt Equity Ratio not more than 3:1 (typically 5:1 in case of NBFCs)


- No default to any government agency (IREDA/PFC/REC) and other FIs / Banks - No erosion of paid-up capital.

Typically, applicants who are loss making/ not meeting the criteria relating to accumulated losses/ debt equity ratio shall be eligible for financing if Bank Guarantee / FDR are provided as security for the entire loan. Generic Eligibility Criteria and Conditions for Loans for

Wind Energy Financing Eligible Projects:

- Projects demonstrating techno commercial viability - Grid connected wind farm projects in identified windy sites appearing in the MNRE / CWET list of -Potential sites for wind farm projects in the country - Projects incorporating wind electric generators appearing in the C-WET approved manufacturers list - Project sites having mean annual wind power density of over 200 Watts/Sq.m. at 50m above ground level - Project incorporating new Wind Electric Generators with the capacity 225 kW and above

Financing Norms (IREDA):


- 10.25% interest rate with a 10 year maximum repayment period - 30% minimum promoter contribution and loan available up to 70% of the project cost - Front end fee of 0.5% to 1.25% of the loans amount - Registration fee between Rs 10,000 to Rs 60,000 depending on the loan amount

8. Wincare - O&M Equipment like Turbines, Generators, Boilers, Compressors, Pumps etc., in Power and Process plants, play a vital role. Analysis of the causes for nonavailability of these equipment shows that the manufacturer, the Operating staff and the Maintenance staff can contribute equally to the attainment of good results. Careful monitoring of the conditions of the wind turbines helps the operation and maintenance personnel to improve the reliability of these turbines. Operation and Maintenance Costs for Wind Turbines Modern wind turbines are designed to work for some 120 000 hours of operation throughout their design lifetime of 20 years. That is far more than an automobile engine which will generally last for some 4 000 to 6 000 hours.

Operation and Maintenance Costs Experience shows that maintenance cost are generally very low while the turbines are brand new, but they increase somewhat as the turbine ages. Studies done on the 5000 Danish wind turbines installed in Denmark since 1975 show that newer generations of turbines have relatively lower repair and


maintenance costs that the older generations. (The studies compare turbines which are the same age, but which belong to different generations). Older Danish wind turbines (25-150 kW) have annual maintenance costs with an average of around 3 per cent of the original turbine investment. Newer turbines are on average substantially larger, which would tend to lower maintenance costs per kW installed power (you do not need to service a large, modern machine more often than a small one). For newer machines the estimates range around 1.5 to 2 per cent per year of the original turbine investment. Most of maintenance cost is a fixed amount per year for the regular service of the turbines, but some people prefer to use a fixed amount per kWh of output in their calculations, usually around 0.01 USD/kWh. The reasoning behind this method is that tear and wear on the turbine generally increases with increasing production.

WinCare Wincare is the complete O&M solution that is provided by WinWinD. The operation and maintenance team is handed over the task after the commissioning of the wind turbines. This means the moment the wind turbine reaches the operational stage the O&M teams comes into action. Thus the O&M teams makes sure for the smooth on going operation of the Wind Turbines. The Win Care system allows our technicians to control the turbines from a remote location. The system provides information on wind speed, turbine performance and many other variables. The system can also generate detailed, tailor made reports from anywhere in the world. The server gathers and stores data and can provide actual and cumulative information on many parameters of

the entire wind turbine. Clients can also login through the internet to monitor the turbine performance. Through WinCare service, WinWinD is committed to the long-term maintenance and servicing of its wind farms and, at the same time, gives an extended guarantee for the turbines. We guarantee high availability of the farm during the entire Wincare service period. We know the technical quality of our turbines, so we can take complete care of it through an extremely long Wincare service package. When our Wincare customers make their investment, they know the costs involved in services and maintenance – so our customers can safely concentrate on looking after their own core business. Service offered by wincare  Schedule Maintenance and service Schedule maintenance and service of the WEC are the services performed in accordance with supplier’s operation and maintenance manuals  Ad Hoc Work/Unscheduled Services Ad Hoc Work/Unscheduled maintenance is any maintenance or repair work required to be done on the WTG’s other than the schedule maintenance and service and includes the work required to be performed under the defects liability in the WTG’s Supply Agreement.  Local Surveillance


WinWinD shall ensure than an adequate numbers of skilled service technicians are deployed for carrying out Local Surveillance of the WEC’s. Local resetting of error noticed by the service technicians will be done on a 24 hours a day, all year round basis. Resetting shall not exceed ----- consecutive times of identical error.  Remote Surveillance WinWinD shall ensure than an adequate numbers of skilled service technicians are deployed for carrying out Remote Surveillance of the WEC’s.  Hotline Services 24x7 Hotline Services shall include Response related to service request submitted by the employer concerning operation, control and technical design of the WTG's, questions relating to error/faults detected issues.

 Oil and Consumables for WEC’s WinWinD shall, if required in accordance with contractor’s quality instruction and operation and Maintenance Manuals, supply necessary oil for WEC’s for top up complete exchange of oil in main gearbox, hydraulic station, yaw gears etc. – Consumables are defined as component or parts that need to change on regular basis  Spare Parts for WTG’s

WinWinD shall supply necessary Spare Parts for WEC’s including all costs (in and out cost) related to the change of spare parts for WEC’s. Contractor reserves its right to use refurbished Spare Parts for WEC’s and its right to asses which Spare Parts for WEC’s are reasonably required to be changed.


On a monthly basis contractor shall submit an operating status report to the employer. Each operating status report shall, if applicable, contain: – Operating data – Availability data – Result from oil tests – Consumption data on main component – Consumption data on spare parts – Schedule service – Failure service

The Daily production report shall be made available to the purchaser either by the supplier or through the website-----. The format of the production report shall be in accordance with contractor’s standard.

Each production report shall, if applicable, contain: – Daily production for WECs – Accumulated production for each WEC – Daily WEC-and grid availability

– Details of stoppages  Balance of Plant In standard warranty period contractor shall, for its own account, supply necessary spare parts for balance of plant, including all costs related to change of spare parts for Balance of Plant. In the additional warranty period and post period warranty period, if applicable, spare Parts for Balance of Plant are not included in the service, and will be invoiced separately to the employer.

 Availability Warranty Availability means the accumulated time in which each WEC is operating or is ready and available to operate. Availability warranty is provided for the WEC but not for Balance of plant If employer own 1 WEC in the wind farm, Availability will be measured for that single WEC for any given production period.

If employer owns more WECs in the wind farm, Availability will be measured as an average of all employers’s WEC in the wind farm for any given production period.

Availability liquidated damages If contractor fails to meet the Warranty Average Availability for any reason not otherwise excused in agreement between employer and WinWinD, WinWinD shall be liable to the employer for liquidated damage.

Reactive Power Warranty WinWinD warranty that the reactive power import from the grid does not exceed certain percentage calculated on an annual basis. In case of reactive power import of above fixed percentage, levied to the employer by the SEB, contractor will compensate employer by reimbursing the amount charged by the SEB for import of reactive power above fixed percentage.  Additional Services - Road Maintenance WinWinD shall maintain the site approach road in a way and to an extent the condition of the road is/are suitable foe contractor to perform all services includes in the Agreement.

9. Conclusion In the booming wind energy sector in India, WPEPL is one of the few multi megawatt players and the only one to enter directly in megawatt market. Multibrid technology and state-of –the-art manufacturing facility make WinWind to stand ahead from all competitors in Megawatt turbine market segment.

Winwind has already made a mark in the global wind energy market by offering 1 MW and 3 MW wind turbines to their customers, which are backed by superior and advanced technology. The hybrid technology ensures Low maintenance, more reliability and more generation.


WEPEL has already identified the high wind potential site and in process to develop the large scale wind power project in India which will cater Indian investor as well as global investor and the ability of WWD1 to run at low wind speed and weak grid connections ensures sustainable and drive generous revenue for investors


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