Mytrah Energy seems to have been withdrew its planned acquisition of 59.75 MW wind energy assets of TVS Energy.
Mytrah Energy along with some other companies were planning to acquire the wind energy assets of TVS Energy. However, recently it seems that Mytrah Energy has pulled out its bid from the race.
According to sources, the company has cited the reasons behind this are lack of visibility regarding regulatory approvals and certain unresolved due diligence findings.
However, according to company, the funds for the acquisition are still available and is currently evaluating some other projects and acquisitions.
As said by the company officials, the current installed capacity of wind projects is around 309.9 MW and another 238 MW of capacity addition is in pipeline and to come on stream by the year end.
Additional Reading...
http://renews.biz/47379/mytrah-drops-59-75mw-india-deal/
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