Greenko Group plc, the Indian developer, owner and operator of clean energy projects, provided a trading update for the first half of its 2013-14 financial year. The Group said its overall performance is in-line with expectations, with generation increasing 15%, to 650 GWh, compared to the same period in 2012.
The Group said the backdrop for renewable energy in India remains positive, as conventional power assets struggle to supply power to the grid, due to both fuel supply and off-take price issues. Greenko said its wind and hydro portfolio in many States can now profitably supply power below the price of conventional generation. This, coupled with increased demand, means that Greenko is well positioned to provide financially attractive, sustainable long-term returns, the Group said.