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Renewable energy project developer Greenko has increased the power generation capacity by 46 per cent in the nine month period ended December 31, with 1,565 MW up from 1,072 MW.
The company’s installed wind power capacity increased by 154 MW to 715 MW. Greenko has stated it remains on track for its operational portfolio to exceed 1,000 MW this year, with all projects currently under construction being fully financed within budget.
Greenko has changed its financial year from December 31, 2014 to March 31, 2015. Accordingly, the company plans to announce its audited results for 9 months during March 2015.
Anil Chalamalasetty, CEO and MD of Greenko, in a statement said: “In the nine months we have added 154 MW of new wind capacity and achieved a 46 per cent increase in total power generation. Our ongoing initiatives to reduce cost of debt, through $550 million Bond issue in August and the $125 million long term loan from EIG in October, should enhance our profitability.”
Power generation increased by 83 per cent to 1,565 GWh as of December 2014 and by 46 per cent over previous twelve months. The Group's wind portfolio contributed 660 GWh of this, with 640 GWh coming from the hydro portfolio.
Three wind projects at Ratnagiri, Rayala and Basavanabagewadi would have a total combined capacity of 540 MW when fully commissioned. These have made significant progress during the period.
A capacity of 338 MW of wind projects are under advanced construction, including three new wind farms at Tanot (120 MW), Vyshali (100 MW) and Animala (60 MW). These projects are expected to be completed during the 2015 wind generation season.
Greenko currently has six hydro projects under construction, with a total capacity of 188.6 MW. The largest of these is the 96 MW Dikshu project in Sikkim, which is over 80 per cent complete is on track to commence operations during 2015 hydro generation season. Five other hydro projects are at various states of implementation.
In the June 2014, the company had acquired 70 MW Budhil hydro project in Himachal Pradesh from Lanco Infratech Limited.
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