Indian renewable energy projects developer Mytrah Energy has beaten its own capacity addition target for financial year 2016-17.
Mytrah Energy recently announced that it commissioned 283 MW wind energy capacity against the target of 200 MW set for the lady financial year. The total operational wind energy for the company now stands at 826.4 MW.
The company also announced that it commissioned an additional 210 MW wind energy capacity at 3 of its existing projects.
The swift pace of capacity addition is inline with the overall trends seen in India’s wind energy market as a whole. The industry beat the capacity addition target for the financial year by 42%.
Like several other wind energy companies in the country Mytrah Energy has also entered the solar power market. It is currently working to set up 377 MW capacity in the states of Punjab and Telangana. Power purchase agreements for these projects have already been signed. The company also secured rights to develop 45 MW solar power project in the state of Karnataka.
The company has set a target to have 1 GW operational capacity by mid-2017. To meet this target, Mytrah Energy has secured funding worth $175 million from the Asian Development Bank.