Enercon (India) Power Development Private Limited (EIPDPL) a 100% subsidiary of Enercon (India) Limited. EIPDL, was strategically set up to manage the latter's wind power assets. Either directly, or through various Special Purpose Vehicles (SPV's) promoted by Enercon (India) Limited.
This is a crucial task, considering Enercon (India) Limited's corporate commitment to install and operate a portfolio of 1,000 wind energy converters over the next three years.
EIPDPL's key mandates are:
EIPDPL is staffed with experienced personnel, who have for many years been managing the diverse portfolio of Enercon (India) Limited's wind power generating assets across seven states, with high levels of prudence and excellence.
Enercon Financial Consultancy Private Limited (EFCPL) a 100% subsidiary of Enercon (India) Limited (EIL), was set up to organize project finance through innovative financial engineering. To meet Enercon (India) Limited's long term funding requirement for setting up of wind energy projects.
EFCPL consistently endeavors to provide financial solutions for Enercon (India) Limited's own Independent Power Projects (IPP), as well as for the EPC (engineering-procurement-construction) customers of Enercon (India) Limited.
With offices in Mumbai and New Delhi, EFCPL has successfully arranged project finance for all its projects, to the tune of Rs.2,000 crores over the past few years.
Some of EFCPL's main fund and non-fund finance achievements include:
EFCPL has been successful in arranging project financing for large size wind energy Independent Power Producing (IPP) projects on a project recourse basis. This is done in line with financing of similar projects internationally with tenures that are comfortably managed by such projects, often at extremely optimum interest cost.
EFCPL has been successful in assisting Foreign Direct Investment in this sector, by advising foreign companies to set up wind energy projects in India through equity infusion from abroad. The balance is being arranged as Rupee debt, at accepted levels of tenure and interest cost, on a project recourse basis.
These are done with third parties supplying power to them under the Open Access Regime.
One such Enercon (India) Limited project has a long term power purchase agreement signed with private parties, wherein Enercon (India) Limited has established the power project and is supplying power to private parties, having a high credit rating.
EFCPL has successfully managed to arrange finance against security of the receivables due from the sale of power, to the private parties.
This is done for customers who require funds and are investing in wind based power projects, with a view to avail tax benefits and sometimes save on power cost.
Applicability for wind power project funding: