Greenko Group plc Mangalore Wind Farm Commissioned (6279B)
March 06 2014 - 1:00AM
UK Regulatory
TIDMGKO
RNS Number : 6279B
Greenko Group plc
06 March 2014
6 March 2013
Greenko Group plc
("Greenko" or "the Company")
Mangalore Wind Farm Commissioned
Greenko, the Indian developer, owner and operator of clean
energy projects, is pleased to announce that its Mangalore (15.0
MW) wind farm in Karnataka has been commissioned. This takes
Greenko's total generating portfolio to 561 MW, an 81.6% increase
since April 2013.
Mangalore is the sixth wind farm Greenko has commissioned this
year and the project was completed on schedule. The project is
selling its power directly to a commercial customer in Bangalore,
via an attractive 10-year indexed power purchase agreement and the
total project cost approximately EUR13 million. It uses the
well-proven Vensys V87 1.5 MW gearless turbine made by ReGen, which
should in an average year deliver a 28% capacity factor.
The Mangalore wind farm is co-located with Greenko's
Basvanbagewadi (151.2 MW) and Matrix (15.0 MW) wind farms and
shares their existing 180 MW grid connection. Basvanbagewadi
Phase-1 (51.2 MW) and Matrix are both operational.
Commenting on the project, Anil Chalamalasetty, CEO of Greenko,
said: "Our strategy of building large wind farms in a phased
manner, using the latest low wind speed turbine technology and
connecting to the high voltage transmission grid, means we can
deliver significant, predictable and profitable growth. Mangalore
is the sixth wind farm we have commissioned this financial year and
we expect to commission a further three wind farms before July's
monsoon. This should give us almost 700 MW for our 2014-15
financial year's main generating season - a 125% increase on the
previous year."
-Ends-
For further information please visit www.greenkogroup.com or
call:
Greenko Group plc
Anil Chalamalasetty / Mahesh Kolli +44 (0)20 7920 3150
Vasudeva Rao Kaipa / Mark Thompson
Arden Partners plc
Richard Day / Adrian Trimmings +44 (0)20 7614 5917
Investec Bank plc
Jeremy Ellis / Gary Clarence +44 (0)20 7597 4000
Tavistock Communications
Matt Ridsdale / Mike Bartlett +44 (0)20 7920 3150
About Greenko
Greenko is a mainstream participant in the growing Indian energy
industry and a market leading owner and operator of clean energy
projects in India utilising a de-risked portfolio of wind,
run-of-river hydropower, natural gas and biomass assets. The Group
is now focused on building new utility scale wind farms and
hydropower projects across India. Greenko intends to increase the
installed capacity it operates by winning concessions to develop
and build new greenfield assets, as well as making selective
acquisitions which enhance shareholder value.
Greenko's portfolio is carefully planned and managed to ensure
it offers investors diversification and spreads its risk across a
number of projects that utilise various well-proven environmental
technologies. The Company's goal is to reach 1,000 MW of
operational capacity in 2015 and approximately 2,000 MW in
2018.
With a core belief in sustainability both operationally and
environmentally, Greenko endeavours to be a responsible business
playing an important role in the community beyond its role in the
power generation industry. The Company maintains a continuous
involvement in localised projects and community programmes which
centre on education, health and wellbeing, environmental
stewardship and improving rural infrastructure.
Greenko Group plc was admitted to trading on the AIM market of
the London Stock Exchange (LSE: GKO) in November 2007.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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