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7 Aug 2014 15:06
7 August 2014
Infrastructure India plc
("Infrastructure India" or "IIP")
India Hydropower Development Company - Monsoon Damage
Infrastructure India plc, the infrastructure fund investing directly into assets in India, has been notified that India Hydropower Development Company LLC's ("IHDC") 4.9 MW Darna plant in Maharashtra (the "Darna Plant") suffered extensive damage as a result of very heavy monsoon rainfall in the catchment area and abnormally high inflows to the Darna reservoir. IHDC, in which IIP has a 50% interest, is a developer of small hydropower projects, with six operational projects and an aggregate installed capacity of 62 MW. The Darna Plant accounts for 7.9% of IHDC's installed capacity.
The Darna Plant is currently out of operation. The damage to the plant includes the collapse of an external wall of the outer structure and water damage to electromechanical equipment. No personnel have been injured. The plant is insured against property damage and resulting loss of operating revenue. IHDC is working with the insurer to verify the scope of coverage. IHDC's other projects in Maharashtra, Bhandardara I and Bhandardara II are operating normally.
The Company, together with IHDC, is currently assessing the damage and will update shareholders, as appropriate, in due course.
Enquiries:
Infrastructure India plc Sonny Lulla
| www.iiplc.com Via Instinctif Partners |
Smith & Williamson Corporate Finance Limited Nominated Adviser & Joint Broker Azhic Basirov / Ben Jeynes
| +44 (0)20 7131 4000 |
Nplus1 Singer Advisory LLP Joint Broker Gillian Martin - Corporate Finance James Waterlow - Investment Fund Sales
| +44 (0) 20 7496 3000 |
Instinctif Partners Financial Public Relations Toby Bates | +44 (0) 20 7457 2020 |
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