Mytrah Energy to lift wind capacity to 548 MW by end-2013 - report
Oct 4, 2013 - Indian wind farm developer Mytrah Energy Ltd (LON:MYT) expects to boost almost two times its wind generation capacity to 548 MW by end-2013 from the current 309.9 MW, the Hindu Business Line said Tuesday, citing managing director Vikram Kailas.
The increase will come from the addition of new projects, work on which has already began. The schemes are seen to be completed by the end of this year.
According to Kailas, Mytrah has obtained USD 203 million (EUR 149m) in debt financing to back the 238.2 MW of capacity scheduled for completion in 2013. It also got USD 17.5 million in funding from its sponsor group companies.
For the first half of 2013, the Indian firm reported net profit from continuing operations of USD 3.86 million, compared to USD 2.6 million a year ago. Revenues increased to USD 27.4 million from USD 16.1 million, thanks to revenue from wind parks in the states of Gujarat, Rajasthan, Maharashtra and Andhra Pradesh.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.