Mytrah Energy has become one of the first renewable IPPs in India to have achieved 1 GW of installed capacity.
Mytrah Energy announced in a press release that it crossed operational capacity base of 1 GW following commencement of operations at Aspari wind energy project in the state of Andhra Pradesh.
“In just six years Mytrah has covered an extraordinary distance and today marks the significant milestone achievement of one gigawatt of wind energy capacity,” Ravi Kailas, Chairman, Mytrah Energy said.
The company is working aggressively to increase its installed capacity base. According to recent media reports, the company is looking to sell an equity stake to private equity funds with a target of raising around $300 million. A third of this funding will be used to retire mezzanine debt taken from IDFC Alternatives. The rest will be used for setting up solar and wind energy projects across the country.
The company has so far raised $825 million, which includes $175 million from the Asian Development Bank (ADB).
Mytrah Energy Limited has a portfolio of wind power generation assets across 15 projects and 8 states. The Company has more than 200 wind masts installed across multiple states in India, providing a pool of information from which to select its future projects. Mytrah Energy currently has an active development pipeline of about 3000 MW of wind and 500 MW of solar.