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Mytrah drops 59.75MW India deal

According to reports, Mytrah Energy has pulled out of its planned acquisition of 59.75MW of wind energy assets in India.

The company cited a lack of visibility regarding regulatory approval and unresolved due diligence findings.

Mytrah said the funding for the project is still in place and it is evaluating a number of other target projects and acquisitions.

Chief executive Ravi Kailas said current construction projects are meanwhile progressing to schedule. “With 238MW of new capacity due to come on stream by the year’s end, we remain on course to almost double our installed capacity in India, which currently stands at 309.9MW.”

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