27th Jan 2015 08:33
LONDON (Alliance News) - Indian clean energy company Greenko Group PLC on Tuesday said it was performing in line with expectations, with its power generation rising significantly in the final nine months of 2015.
Greenko said its power generation in the nine months to December 31 rose to 1,565 gigawatt hours, up from 1,072 gigawatt hours in the twelve months to December 31, 2013
Installed capacity for the company rose to 715 megawatts from 154 megawatts over the period, driven by new wind capacity commissioned. The group said its operating performance was in line with expectations, noting that although the monsoon season started late, it continued for longer than usual in certain locations until mid-November.
The group noted it has now changed its financial year-end to December 31 and will publish its results for the nine months to December 31, 2014 in March.
"With the Indian energy market becoming increasingly favourable towards renewable hydro and wind power, we remain very optimistic about the sustainability of our operational and financial performance, and we look forward to providing a more detailed update in March," said Greenko Chief Executive Anil Chalamalasetty.
Greenko shares were up 7.8% to 114.25 pence on Tuesday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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