Renewable energy company Greenko Group, which currently has operational assets of about 900 MW in the country, is set to cross the magical 1000 MW (one giga watt) capacity by August-September with the commissioning of couple of projects.

“The capacity by the end of the year is likely to go up to 1,100 MW if the new capacity addition is factored into from both wind and hydel power projects,” said Anil Kumar Chalamalasetty, CEO and Managing Director.

The CEO told BusinessLine that the company had completed the formation of a new structure for key operating assets under The Restricted Group. This enabled the company access US dollar borrowings facilities at lower rates than the Indian rupee borrowings. The Indian borrowings were repaid and this would benefit the company during 2015.

The projects under the Restricted Group represents the company’s key cash generating assets and also enable to set up more assets over the years. This Group enabled the company to secure $550 million.

The company has a number of new projects at advanced stage of construction and these are scheduled to be ready for the current wind season. Even some of the hydel projects are at advanced stage of implementation and expected to be operational during 2015 and 2016.

“The company expects to achieve a total installed capacity of 1104 MW of operating renewable assets in 2015. In addition, about 191 MW of hydel assets are under construction which are expected to be fully implemented by early 2016,” he explained.

The CEO said the Indian power generation balance remains extremely favourable for investors in new renewable projects and the company is well placed to build on these opportunities.

“With substantial portfolio of land rights and grid connections we are well placed to combine our wind portfolio with new solar projects alongside our existing assets either alone or in strategic partnership with industry or technology leaders,” he said.

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