25th Feb 2015 09:14
LONDON (Alliance News) - Mytrah Energy Ltd on Wednesday said it has secured project financing to back its wind power building programme in India and said it has won a new wind power deal in the country.
The Indian renewable power company said it has secured a INR8.5 billion, USD137.5 million, loan with an unnamed Indian financial institution.
The financing will back the building of 150 megawatt of wind power due to come on stream in the next twelve months.
Elsewhere, the company also said it has secured the rights to build a 220 megawatt project with the government of Andhra Pradesh. The deal brings its development pipeline up to 3,500 megawatt.
"I am delighted to announce the loan today, which underpins our next 150MW of wind power production in India, taking us over 690MW," said Chairman and Chief Executive Ravi Kailas.
Shares in Mytrah were up 0.9% to 70.25 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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