Greenko brings online 136 MW of wind farms in H1 FY 2014/15

Oct 24, 2014 - Indian firm Greenko Group Plc (LON:GKO) said today it had put on stream 136 MW of wind farms in the first half of its fiscal year which will end in March 2015.

Greenko, which develops wind, hydro, natural gas and biomass projects, currently has 697 MW of installed power generation capacity. Its goal is to have an operational portfolio of over 1,000 MW in 2015, it said, adding that it is on track to achieve the target.

The Indian firm managed to boost its power output in the six months by 89% on the year to 1,225 GWh thanks to the ongoing monsoon in some areas, which helped increase wind and hydropower production. Of the total generation, wind farms contributed 525 GWh, while hydropower plants (HPPs) were responsible for 533 GWh. Coupled with a better production mix, Greenko anticipates the higher total output to lead to revenue and EBITDA growth of over 120% and 130%, respectively, in its first fiscal half.

Greenko is currently working on the construction of three wind farms with a combined capacity of 338 MW, expected to be commissioned in the 2015 wind season. In addition, the company is building 188.6 MW of HPPs. The largest one of them, of 96 MW, will be switched on at the start of the 2015 generation season, while the remaining HPP capacity will be powered up between late 2015 and early 2016.

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