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Re-introduction of GBI Incentive Scheme

12 Sep 2013 07:00

RNS Number : 7823N
Mytrah Energy Ltd
12 September 2013
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

12 September 2013

 

Mytrah Energy Limited

("Mytrah Energy" or the "Company")

 

Re-introduction of GBI

 

Reintroduction of GBI

 

The Company is pleased to note that the Ministry of New & Renewable Energy of the Government of India formally announced the detailed scheme for the re-introduction of Generation Based Incentive ("GBI") in India on 4 September 2013. The re-instated GBI scheme provides an incentive, to qualifying wind assets commissioned on or after 1 April 2012, of 50 paise (Rs. 0.50) per kWh produced, up to an increased cap of Rs. 10m (US$158,000) per MW installed under the new GBI scheme compared to Rs. 6.2m (US$ 115,000) per MW installed under the old GBI scheme.

 

Following the announcement of the re-introduction of the GBI scheme, the Company is pleased to confirm that all of its existing projects, totalling 309.9 MW, and the 238.2 MW under development qualify for the GBI scheme, with 186 MW qualifying under the old GBI scheme and 362.1 qualifying under the new GBI scheme.

 

Projects qualifying under the old GBI scheme

 

Project Location State Capacity (MW)

 

Tejva Rajasthan 42.0

Mahidad Gujarat 25.2

Chakala Maharashtra 39.0

Kaladongar Rajasthan 58.8

Jamanwada Gujarat 12.6

Vajrakayur Andhra Pradesh 8.4

 

Total 186

 

Projects qualifying under the new GBI scheme

 

Project Location State Capacity (MW)

 

Kaladongar Rajasthan 16.8

Jamanwada Gujarat 39.9

Vajrakayur Andhra Pradesh 54.6

Sinner Maharashtra 12.6

Burgula Andhra Pradesh 37.4

Savalsang Karnataka 100.3

Vagarai Tamil Nadu 100.5

 

Total 362.1

 

For further information please visit www.mytrah.com or contact:

 

Mytrah Energy Limited

Ravi Kailas / Alastair Cade +44 (0)20 3402 5790

 

Strand Hanson Limited

James Harris / Richard Tulloch / Angela Hallett +44 (0)20 7409 3494

 

Investec Bank plc

Chris Sim / Jeremy Ellis +44 (0)20 7597 5970

 

Mirabaud Securities LLP

Peter Krens / Rory Scott +44 (0)20 7878 3360

 

St Brides Media & Finance Limited

Elisabeth Cowell / Frank Buhagiar +44 (0)20 7236 1177

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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