Greenko Group Plc, said it currently has an operating portfolio of 214.6 MW, which will be increased to 260 MW in early July when its first wind project in Ratnagiri, in India starts exporting power. The company also said its hydropower projects, with 136.25 MW are running in line with management’s expectations for this time of the year.
Anil Chalamalasetty, CEO and MD of the company said, “We are delighted with the progress of our projects under-construction, as these underpin the significant growth the Company is planning to deliver in the next three years. ”
“Our new wind farm is an important milestone, as wind power will accelerate our growth and create a diversified generating portfolio that delivers strong returns to shareholders. It also gives India its first large scale wind project built using an independent developer model.”
“With the difficulties facing India’s conventional power sector, hydropower – along with utility-scale wind power – is now the most attractive asset class in the country.”
The company noted that its northern hydropower projects are all generating at full capacity, while the southern hydropower projects are expected to ramp up to full capacity in the next few weeks.
In addition to the projects in-construction, Greenko has just over 900 MW of further projects in its pipeline that are fully permitted and under active development.