10th Oct 2013 08:43
LONDON (Alliance News) - Greenko Group PLC Thursday said it traded in line with expectations in its fiscal first half, with power generation up 15% to 650 gigawatts as the early arrival of the monsoon season in southern India boosted its hydro power generation.
The developer of clean energy projects in India said installed capacity had increased to 412 megawatts from 309 megawatts between April 1 and September 30, with 102 megawatts of new wind-powered capacity either commissioned or completed, meaning it's on track to complete over 250 megawatts of new wind capacity in the full year.
"Given that the project orders for our 2015 target of 1,000 MW are in place, with costs fixed in Rupees and an Indian energy market becoming increasingly favourable for hydro and wind power, we are very optimistic about the returns our portfolio will deliver," Chief Executive Anil Chalamalasetty said in a statement.
It will publish its full first-half results in the week starting December 2.
Greenko shares were down 1.4% at 122 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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