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2008 Clinton Global Initiative -- $5 Billion Suzlon Green Power Commitment

September 24, 2008

Cgiimage006_5Suzlon Green Power Ltd., a closely held enterprise 100 percent owned by India's Tanti family, has committed to bring 3,500 megawatts of electricity to nearly 10 million people with the development of $5 billion in green energy assets over five years, primarily in India and China. Of the total project value, Suzlon Green Power will provide approximately $1.5 billion in equity. This is likely to be the largest Energy & Climate Change commitment announced at this year's CGI meeting.

Suzlon will invest resources and expertise in four key areas:

  1. Acquire existing green power assets to develop scale and expertise.
  2. Develop greenfield power projects.
  3. Garner support and cooperation from a network of vendors, business partners, investors.
  4. Partner with local NGOs and other organizations to develop neighborhoods where the power assets will be developed and operated.

According to the accompanying press release, Suzlon and other Tanti companies bring extensive experience in wind farm development. Of the more than thirty wind farms Suzlon has developed, two are of significant size: Sanganeri, on the southern tip of India, with 600 megawatts; and Dhule, northeast of Mumbai, with 1,000 megawatts under development.

The company estimates that its projects will create a thousand jobs directly and will reduce the equivalent of seven million tons of CO2 a year.

-- Mitch Nauffts

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