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Indian firm secures three hydropower projects

Indian hydropower deal brings local developers closer to a 2015 clean energy target

Himachal Pradesh has a strong hydrology profile as a result of its position at the base of the Himalayan Mountains

Indian clean energy developer Greenko has acquired three more hydropower projects in Himachal Pradesh, totalling 15 MW.

This brings the Hyderabad-based developer’s total generating portfolio to over 275 MW taking it closer to its 1,000 MW target by 2015. In March the firm acquired two hydropower assets with a combined power of 56 MW.

Himachal Pradesh has a strong hydrology profile with diverse water catchment sources including snow, rain and glaciers as a result of its position at the base of the Himalayan Mountains.

Chief executive and managing director Anil Chalamalasetty said: "Greenko has generated strong returns from its hydro assets.

"These are some of the most attractive and sustainable assets for an Indian energy market that is characterized by high demand and constrained base load fuel supply.

"We remain the largest operator and developer of small hydro assets in India, with 151 MW operational, a further 189 MW currently in construction and, 182 MW under active development, plus a good pipeline of potential acquisitions”.