Greenko Group plc 50 MW of Wind Assets Commissioned (0067K)
June 19 2014 - 1:00AM
UK Regulatory
TIDMGKO
RNS Number : 0067K
Greenko Group plc
19 June 2014
19 June 2014
Greenko Group plc
("Greenko" or "the Company")
50 MW of Wind Assets Commissioned
Greenko, the Indian developer, owner and operator of clean
energy projects, is pleased to announce the commissioning of a
further 50 MW of wind assets, taking the Company's total generating
portfolio to 661 MW, more than doubling capacity since April
2013.
Phase-3 (30.0 MW) of the Balavenkatpuram wind farm ("BK3") in
Andhra Pradesh
BK3 will provide electricity to the grid via a 25-year Power
Purchase Agreement ("PPA") with the local State Electricity Board
("SEB"), benefiting from an attractive tariff, along with the
Generation Based Incentive ("GBI"). This additional 30 MW takes the
total generating capacity at the Balavenkatpuram wind farm to 131.2
MW. A final 20.0 MW under Phase-3 should be commissioned within the
next few weeks, and Phase-4 (50.0 MW) is on schedule for
commissioning ahead of the 2015 wind season.
Phase-2 (20.0 MW) of the Ratnagiri wind farm ("RG2") in
Maharashtra
RG2 will provide electricity to the grid via a 15-year PPA with
the local SEB, with both an attractive tariff and the GBI. This
additional 20 MW takes the total operating capacity at Ratnagiri to
85.6 MW, with a final 16 MW expected to be commissioned in the new
few weeks to complete this wind farm.
These are the second and third wind assets that Greenko has
commissioned so far this financial year (since 1 April 2014) and
bring the Company's total operating wind power capacity to 348 MW
in time for the 2014 wind season, which typically starts in July.
.
Anil Chalamalasetty, CEO of Greenko, said: "We are very pleased
to have commissioned further wind projects on schedule, and we
remain on target to reach roughly 700 MW of total operating
capacity across our entire portfolio ahead of this year's wind and
monsoon season."
-Ends-
For further information please visit www.greenkogroup.com or
call:
Greenko Group plc
Anil Chalamalasetty/Mahesh Kolli/ Vasudeva
Rao Kaipa +44 (0)20 7920 3150
Arden Partners plc
Richard Day +44 (0)20 7614 5917
Investec Bank plc
Jeremy Ellis / Gary Clarence +44 (0)20 7597 4000
Tavistock Communications
Matt Ridsdale / Mike Bartlett/ Niall Walsh +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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