RNS Number : 2071Z
Mytrah Energy Ltd
13 March 2012
 



  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

 

Press Release

 13 March 2011

 

 

Mytrah Energy Limited

("Mytrah Energy" or the "Company")

 

Operational update

 

The board of directors of Mytrah Energy (the "Board") is pleased to provide an update regarding the installation of the Company's first 500 MW of wind projects in India, which continues to progress well.  Further to the announcement on 15 December 2011, the Company has made purchase orders for a total of 11 projects, now comprising an aggregate 500 MW, which are currently commissioned or under construction.

 

At present, the Company has 140 MW fully installed and connected to the grid.

 

The Company expects an additional 110 MW to be fully installed and connected by the end of March 2012, totalling 250MW at March 2012, with a further 150 MW installed and connected by May 2012. This will bring the Company's total installed capacity under its original agreement with Suzlon Energy Limited to 400 MW by May 2012, 16 months following the placing of its first purchase orders.

 

In addition, the Company anticipates the final 100 MW of its initial 500 MW of wind projects to be installed by June 2012, in line with the previously announced schedule.

 

These milestones confirm the Group's strategy remains on track to achieving its goal of becoming a leading IPP in India, with 5 GW of wind power generating capacity targeted by 2017.

 

Ravi Kailas, Mytrah Energy's Chairman and Chief Executive Officer, commented:

 

"I am very pleased to provide an update on the strong progress being made by the Company in 2012.  Since the Company's admission to trading on AIM in October 2010, Mytrah Energy has demonstrated its ability to become the fastest growing wind based renewable IPP in India and I believe that we have the potential to become the largest wind IPP in India during the first half of 2012 with 500 MW of generating capacity.  I look forward to providing further updates for shareholders regarding our continued progress during the remainder of this year."

 

 

Further information on the Company can be found at www.mytrah.com.

 

- Ends -

 

 

For further information please contact:

 

Mytrah Energy Limited


Ravi Kailas, Chairman and Chief Executive Officer

+91 40 4396 0000



Strand Hanson Limited


Angela Peace / Paul Cocker / James Harris

+44 (0) 20 7409 3494



Deutsche Bank


Drew Price / Rajat Katyal

 

+44 (0) 207 545 8000

Mirabaud Securities LLP


Peter Krens / Rory Scott

+44 (0) 20 7878 3360



Pelham Bell Pottinger


Charles Vivian / Philippe Polman

+44 (0) 20 7861 3232





 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
 
 
Mytrah Energy Ltd - Regulatory News Item
Mytrah Energy Ltd - Operational Update
RNS Number : 2071Z
Mytrah Energy Ltd
13 March 2012
 



  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

 

Press Release

 13 March 2011

 

 

Mytrah Energy Limited

("Mytrah Energy" or the "Company")

 

Operational update

 

The board of directors of Mytrah Energy (the "Board") is pleased to provide an update regarding the installation of the Company's first 500 MW of wind projects in India, which continues to progress well.  Further to the announcement on 15 December 2011, the Company has made purchase orders for a total of 11 projects, now comprising an aggregate 500 MW, which are currently commissioned or under construction.

 

At present, the Company has 140 MW fully installed and connected to the grid.

 

The Company expects an additional 110 MW to be fully installed and connected by the end of March 2012, totalling 250MW at March 2012, with a further 150 MW installed and connected by May 2012. This will bring the Company's total installed capacity under its original agreement with Suzlon Energy Limited to 400 MW by May 2012, 16 months following the placing of its first purchase orders.

 

In addition, the Company anticipates the final 100 MW of its initial 500 MW of wind projects to be installed by June 2012, in line with the previously announced schedule.

 

These milestones confirm the Group's strategy remains on track to achieving its goal of becoming a leading IPP in India, with 5 GW of wind power generating capacity targeted by 2017.

 

Ravi Kailas, Mytrah Energy's Chairman and Chief Executive Officer, commented:

 

"I am very pleased to provide an update on the strong progress being made by the Company in 2012.  Since the Company's admission to trading on AIM in October 2010, Mytrah Energy has demonstrated its ability to become the fastest growing wind based renewable IPP in India and I believe that we have the potential to become the largest wind IPP in India during the first half of 2012 with 500 MW of generating capacity.  I look forward to providing further updates for shareholders regarding our continued progress during the remainder of this year."

 

 

Further information on the Company can be found at www.mytrah.com.

 

- Ends -

 

 

For further information please contact:

 

Mytrah Energy Limited


Ravi Kailas, Chairman and Chief Executive Officer

+91 40 4396 0000



Strand Hanson Limited


Angela Peace / Paul Cocker / James Harris

+44 (0) 20 7409 3494



Deutsche Bank


Drew Price / Rajat Katyal

 

+44 (0) 207 545 8000

Mirabaud Securities LLP


Peter Krens / Rory Scott

+44 (0) 20 7878 3360



Pelham Bell Pottinger


Charles Vivian / Philippe Polman

+44 (0) 20 7861 3232





 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange