7th Aug 2014 14:35
LONDON (Alliance News) - Infrastructure India PLC Thursday said a 4.9 megawatt power plant in Maharashtra, owned by India Hydropower Development LLC, suffered extensive damage as a result of very heavy monsoon rainfall in the catchment area and abnormally high inflows to the Darna reservoir.
Infrastructure India holds a 50% stake in India Hydropower, with the remaining stake held by DLZ Corporation.
The company said the Darna Plant is currently out of operation. No personnel were injured as a result of the monsoon.
The damage to the plant includes the collapse of an external wall of the outer structure and water damage to electromechanical equipment.
The plant is insured against property damage and resulting loss of operating revenue. India Hydropower is working with the insurer to verify the scope of coverage, Infrastructure India said.
The company said it is currently assessing the damage together with India Hydropower and will update shareholders, as appropriate, in due course.
Infrastructure India said India Hydropower's other projects in Maharashtra, Bhandardara I and Bhandardara II are operating normally.
Infrastructure India shares were down 3.5% at 14.00 pence Thursday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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