23 Dec 2013 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
23 December 2013
Mytrah Energy Limited
("Mytrah Energy" or the "Company")
Project Update
Mytrah Energy Limited, the India-based independent power producer, is pleased to provide the following update on the progress at its three new sites, Burgula, Savalsang 1 and Vagrarai, which when completed will have a total capacity of 238.2 MW. To date, across all three sites, turbines with an aggregate capacity of 150 MW are now completed, increasing Mytrah's total installed capacity from 309.9 MW to 459.9 MW. All three projects are being commissioned on a rolling basis with the stabilisation process being conducted throughout Q1 2014, which is expected to allow Mytrah to capture the benefit of the 2014 wind season on the full portfolio of 548.1 MW.
Table providing further details on the three new projects
Project Name State Capacity Expected PLF
(MW) at P50
Burgula Andhra Pradesh 37.4 24%
Savalsang 1 Karnataka 100.3 25%
Vagrarai Tamil Nadu 100.5 31%
Burgula and Savalsang are Mytrah's first two self-development projects constructed on the Company's land with Gamesa WTGs, which provides the Company with increased diversification when combined with its turnkey agreement with Suzlon. Vagarai is another self-development project with Regen, and is Mytrah's first project where the output will be sold under "third party sale agreements". Vagarai is expected to be one of the Group's highest performing sites with an expected PLF (at P50) of 31%.
For further information please visit www.mytrah.com or contact:
Mytrah Energy Limited
Ravi Kailas / Alastair Cade +44 (0)20 3402 5790
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