ASX-Dividend-Report-Banner

Envision Energy Signs Landmark Agreement with Hero Future Energies to Supply 588 MW WTGs

April 30, 2024 01:56 PM AEST | By Cision
 Envision Energy Signs Landmark Agreement with Hero Future Energies to Supply 588 MW WTGs
Image source: Kalkine Media

NEW DELHI, April 30, 2024 /PRNewswire/ -- Envision Energy, a global leader in green technology, and Hero Future Energies, a leading Renewable Energy IPP have signed a framework agreement for cooperation across multiple aspects of the Renewable Energy sector including WTG supply and other technologies including BESS and Green Hydrogen. The framework agreement also includes Envision providing 588 MW (178 units of EN 156-3.3 MW Wind Turbine Generators) that will produce 2,200 GWh units of clean energy annually, significantly accelerating India's progress towards achieving its net-zero emissions goals. 

With setting up of manufacturing facilities for nacelles, hubs & blades and a remote-control centre for wind projects built across the country, India has emerged as a strategic market for Envision creating more than 2,000 jobs (direct and indirect). This much cherished association with Hero Future Energies would play a pivotal role in ramping up renewable energy capacity in India. With a proven track record in global markets, Envision WTGs are well poised to bolster India's wind energy landscape. Built with a rotor diameter of 156 m, hub- height of 140 m and a rated capacity of 3.3 MW, these WTGs are best suited to perform in the Indian wind regime.

Mr. Srivatsan Iyer, Global CEO – Hero Future Energies said "We are pleased to announce our strategic partnership with Envision Energy, a key partner in our growth story in the RE sector. Long-term agreements such as this help us mitigate unpredictable supply chain disruptions while ensuring price stability. By leveraging our collective strengths and expertise, we are strategically positioned to expedite the adoption of wind energy and other decarbonization efforts. This collaboration underscores our commitment to fostering a cleaner and more sustainable future."

Mr. RPV Prasad, MD, Envision Energy India said, "It is a momentous step for Envision India to partner with Hero Future Energies (HFE), a Hero Group company to leverage the potential in wind-rich states across India. We are well placed to support HFE's formidable presence in India and a growing global footprint complemented by our global supply chain strengths. As part of our commitment to the Atmanirbhar Bharat vision, we assemble nacelles and hubs at our Pune plant, manufacture blades at our Trichy factory and source tower components from approved manufacturers based out of India. This partnership will play a pivotal role in propelling India towards its net-zero target by 2070."

Mr. Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said "We are delighted to collaborate with Hero Future Energies and accelerate the green energy transition to avert the climate crisis. This partnership is a testament to our long-term commitment to solving the challenges for a sustainable future. Together, we can expand this partnership beyond Wind Turbines to solutions in BESS and Green Hydrogen to become a preferred and trusted NetZero Tech Partner of the Hero group."

In India, Envision has successfully commissioned more than 690 MW of wind projects and has already been awarded ~ 7.4 GW orders for the highly successful EN-156, 3.3 MW WTG model. Envision is currently supporting projects for 20 IPPs in 6 states with over 30 project sites. To support this growth, the company has established an annual manufacturing capacity of 3 GW for Nacelle & Hub in Pune, and a 2.5 GW capacity for blades with 9 moulds including at its own plant at Trichy. 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.