Mytrah Energy targets 5000 MW wind power by 2018

Mytrah Energy Limited plans to build 5000 MWs in India by 2018.

The company has already invested about Rs 2,400 crores in current projects and is estimated to invest a further Rs 2,000 crores in the current year.

According to Ravi Kailas, Chairman and CEO of Mytrah Energy Limited, the medium term investment is expected to be in the range of Rs 30,000 crores to build 5000 MW. The company currently has an installed capacity of about 316 MWs and it is likely to go up to 610 MW by middle of next year, he said.

Noting that the company is well-positioned within the renewable energy space in the country at present, he said it would emerge as a key player in the years to come in view of the advantages it enjoys.

"I believe that we have designed our company with a view to be sustainable in the long run. Because, we, not only have access to turbines at a competitive price and in scale and over time, we also have one of the best execution and development teams in India. We also have access to funding to allow us to build these projects," Kailas said.

"We also have access to a large development portfolio of locations where we set up these turbines and information to determine which are the best sites for us. So, taking these four aspects into account, I believe that we are well positioned to be one of the key players in wind energy space for years to come," he said.

According to Kailas, the copany's current equity financing allows them to build over 600 MW, and has the further ability to build 200 to 400 MW from their internal cash flows.

"So, even if we do not raise any further equity, we will end up at 4000 or 5000 MW in 2017 or 2018. So, we are a very self sustaining business model. We also have made lot of relationships with the most sophisticated senior lenders in India. This is one of the few sectors that is being funded enthusiastically by lenders in India. And within the sector, I believe we have been preferentially treated. We are viewed as one of the better companies within the sector in India," Kailas said.

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