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Mytrah Energy set to double India wind capacity to 550MW by year-end

India renewables power producer set to complete 238.2MW in Q4 2013 as $17.5m funding is secured

Mytrah Energy said it expects to have 1,500MW of wind power assets operational by 2015

Independent Indian renewables power producer Mytrah Energy hasannounced it is on course to more than double its operational wind capacity to 550MW by the end of the year. Mytrah's wind power portfolio currently stands at 309.9MW, but a further 238.2MW is under the final stages of development and on track for completion in Q4 this year, the company has said. This will bring Mytrah's total installed wind capacity in India to 548.1MW of operational assets by the end of 2013.

The announcement comes with news that the company has secured USD 17.5m of funding from its sponsor group companies. Mytrah Energy said through the additional financing, along with strong internally generated cash flows and banks support, the company expects to have 1,500MW of wind assets operational by 2015. The firm said it soon expects to announce its first orders for delivery of new wind power capacity in 2014.

Ravi Kailas, Mytrah Energy's chairman and chief executive officer, said: "238.2MW of new projects are on track to become operational later this year, which will result in a near doubling of our installed capacity to 548.1MW. We expect to build substantially on this total in 2014 and beyond, and I look forward to providing further details on the projects under development."

The news follows Renewable Energy Technology (RET) reporting this week installed wind capacity in India is expected to overtake the US for the first time.

Wind site construction

Construction across Mytrah Energy's three Indian wind sites currently under final development includes 37.4MW at Burgula, 100.3MW at Savalsang and 100.5MW at Vagarai. The company said developments are "proceeding in line with expectations."

Mytrah said across the three sites a large number of turbines have been erected. With the completion of the balance of plant works, these will begin to be connected to the grid on a rolling basis, the company said. Erection of the additional turbines is continuing daily.