Indian power producer Mytrah Energy PLC said its operations are performing in line with expectations while its new solar business is progressing well.
The company said its 1,000 megawatts of wind turbines in India are “performing well technically” with some “exceeding expectations”.
“Overall production at portfolio level is higher in the current year compared with a year earlier, reflecting the good monsoon season across India as well as a strong asset performance and additional capacity coming into operation,” said Mytrah.
In addition, the company’s new solar business has secured long-term power purchase agreements for 422 megawatts of capacity. Of that, Mytrah has achieved financial closure for 377 megawatts.
“I am delighted to report that we are on track to achieve the expectations for the current calendar year as set out at the time of our 2015 results in March 2016. While we continue to grow our renewable energy portfolio, we will remain selective and focused on maintaining a balanced portfolio that maximises value for our shareholders. I look forward to updating the market on our 2016 results in early 2017,” said Ravi Kailas, chairman of Mytrah Energy.