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May 20, 2012

Mytrah on status of wind capacity additions…

Mytrah Energy LogoMytrah Energy has recently  provided an update on its capacity installations to London Stock Exchange, according to which Mytrah has increased its total installed and commissioned assets to 224.2 MW.

 

 

 

Out of the this below mentioned projects with the total capacity of 106.2 MW are fully commissioned

SN

Site

Capacity (MW)

State

1

Tejva

42.0

Rajasthan

2

Mahidad

25.2

Gujarat

3

Chakala

39.0

Maharashtra

Total

 

106.2

 

 

 

Further as reported by Mytrah below mentioned projects are almost on the verge of completion and will  be completed within 60 days.

SN

Site

Capacity (MW)

State

1

Kaladonger

96.6

(Earlier planned was 75.6 MW)

Rajasthan

2

Jamanvada

52.5

Gujarat

3

Vajrakarur

63

Andhra Pradesh

4

Sinner

18.9

Maharashtra

Total

 

231.0

 

 

 

Some more projects are also into construction phase and most of the clearances received and supply of turbines completed.

SN

Site

Capacity (MW)

State

1

Gotne

33.6

Maharashtra

Total

 

33.6

 

 

Some of the recent developments made by the company in its project portfolio.

 

  • The Company has reduced the size of its project at Sinner in Maharashtra by 10.5 MW to 18.9 MW, from the previously announced 29.4 MW, and is replacing the project at Hanumanthappa, Karnataka (25.2 MW) with an alternative site. In order to partially offset this within the Company's portfolio, Mytrah Energy has increased the size of the project at Kaladonger, Rajasthan, by 21 MW, from 75.6 MW to 96.6 MW. 

 

  • The Board believes that the ability to adjust its portfolio demonstrates one of the significant advantages of the Company's business model, as the turnkey nature of its contracts and the diversified nature of its project portfolio enables the Company to adjust the size of individual projects as circumstances change. In addition, and again due to the turnkey nature of its contracts, the Company does not incur an increase in the cost of the projects.

 

  • The Maharashtra Electricity Regulatory Commission has recently increased its tariff from Rs. 5.37 per kWh to Rs. 5.67 per kWh for Wind Zone I for the projects commissioned in the year 2012-13. As said by Mytrah all three of the Company's projects under development in Maharashtra will benefit from this increase in tariff providing a significant increase in the overall return on these projects. In addition, the Company anticipates both Rajasthan and Andhra Pradesh to increase their tariffs in the near term. In light of an expected tariff increase in Andhra Pradesh, the Company intends to wait to continue the development of its first project with Gamesa at Burgula (79.9 MW), in order to benefit from the expected higher tariff.

 

  • The Company is pleased with the progress at its sites and the Board is confident that Mytrah Energy is set to become the largest wind energy IPP in India over the next few months. In addition, the Company has now secured all the senior debt financing required for its projects under development, and is in the final stages of identifying the sites for its roll-out through 2012 and 2013. 

 


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