Mytrah said it has struck an agreement with Guayama Holdings for it to invest up to $31million in its subsidiary to support the development of a 200MW wind energy project in India.
The company said the investment vehicle of GE Energy Financial Services will inject up to 49% of the capital of Mytrah Energy Private Limited.
Mytrah also revealed an additional 51.50MW has been commissioned at its Nazeerabad and Nipaniya projects.
A total of 31.50 MW was added to the Nazeerabad project while 20 MW was commissioned at the new Nipaniya project in Madhya Pradesh State.
Meanwhile the Company’s total operating wind portfolio now stands at 877.9 MW, with an additional 40 MW erected and under commissioning.
The energy firm has also entered into a contract with Sungrow Power Supply Company Limited, a company based in Hefei, China, for the purchase of up to 150 MW of Solar Central Inverters.
Sungrow is the world’s leading PV-inverter manufacturer with over 20 GW installed globally.
Ravi Kailas, chief executive of Mytrah Energy, said:”Attracting investment from GE is a huge endorsement of Mytrah’s operations and its growing position in India’s power market, and we are delighted to have successfully completed this fund raising.
“With the Company on track to reach 1000 MW operating capacity by mid-2017, these new funds will help to maintain positive momentum as we enter the next development stage and support the construction of a major power project.”
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