BEWML (Panama Wind)


Berkeley Wind Energy Mauritius (formerly Panama Wind) is a greenfield renewable energy developer in India, developing a 96MW wind farm in Maharastra, 350 km South of Mumbai.

With the initial EUR 3 million investment in 2011, BIO played an important catalytic role in this first medium size project in India for Panama Wind, to attract more investors.

In view of its important supply-demand energy gap, India has developed an attractive liberalized regulatory framework for energy and renewable energy to support its economic growth.  Renewable energy development is encouraged thanks to Renewable Purchase Obligation, an attractive Feed-in-tariff and incentives. As Maharashtra offers the highest feed-in-tariff for wind throughout the country, it is very attractive for wind energy project development.

BIO’s investment will contribute to direct and indirect job creation; to the coaching and training of the local team at international standards and E&S; and to the reduction of the energy shortage. India has supply-demand energy gap up to 15%. The project will have an important impact on rural areas as 23 million rural households in 120.000 villages are currently not connected to the grid due to lack of capacity.

BIO signed a € 1 million loan contract in 2015 to support Berkeley Wind in overcoming a setback suffered in 2014 to several wind turbines.

Development impact:

  • Private sector consolidation/innovation: Berkeley transfers its international knowledge (standards) to the company; the contribution of the local partner is the local knowledge of the Indian regulatory framework
  • Access to basic services and goods: The panama wind project will contribute to the reduction of energy shortage, by adding new capacity to the grid.
  • Fight against climate change and preservation of natural resources: Decrease dependence on fossil fuels and develop renewable energy capacity
  • Investment amount (€):

    Eq € 3 M; Debt € 1 M

    Registered Office: Mauritius Beneficiary country: India

  • Contract signature :

    2011, 2015

    Wind farm

  • Nature of intervention :

    Equity (2011) & Debt (2015)

  • Development impacts :

    • 1 — Private sector consolidation/innovation
    • 2 — Access to basic services and goods
    • 3 — Fight against climate change and preservation of natural resources