Mytrah Energy Ltd Friday said it has increased its portfolio of operating wind assets by 70% since the end of December, and it is performing well since the start of the monsoon season in India.
The power producer said that following the installation of an additional 65 megawatts of assets, its portfolio of operating wind assets now stands at 524.9 megawatts, a 15% increase since March 17, when the company reported its annual results, and a 70% increase since the end of 2013.
Mytrah said its new assets at Burgula in Andhra Pradesh, Savalsang 1 in Karnataka, and Vagrarai in Tamil Nadu are expected to be amongst the company’s strongest performing assets, and are all performing well after their stabilisation periods.
The company added that since the start of the monsoon season in India, it is pleased with the overall performance of its assets despite some press reports suggesting a late and weak monsoon due to an El Nino effect.
Mytrah said its plant load factors were slightly below average during May, but above average during June and July. As such, it expects the full portfolio to perform in line with its expectations during 2014.
“We anticipate 22 megawatts of assets becoming operational in the near term, and in the third quarter 2013 having signed an order with Suzlon for 227 megawatts, we have a solid development pipeline for the future,” Chief Executive Ravi Kailas said in a statement.