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Taragk8
Taragk8
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Full Name:Tomm Harekin
Last Login:2/20/18
Join Date:2/20/18
Profile Views:166
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My Website:https://www.vccircle.com/adb-lend-175m-renewable-energy-firm-mytrah/
About Me:Hyderabad-based power producer Mytrah Energy (India) Ltd said on Thursday it will raise up to $175 million (Rs 1,164 crore) in loans from the Asian Development Bank to fund its wind and solar projects.

“This loan facility underpins our growth plan; the company expects to reach its medium term capacity target of 1000 MW in the coming 12 months,” said Ravi Kailas, chairman, Mytrah Energy. The wind power projects are in Rajasthan, Madhya Pradesh, Andhra Pradesh and Karnataka while the solar power projects are in Telangana and Punjab.

The company will supply the electricity generated from these projects to respective state utilities under long-term agreements, it added. Mytrah’s parent listed on London’s AIM platform in 2010 after raising $80 million from institutional investors Capital Group, BlackRock Inc and Henderson Global Investors. It has separately raised money since then to fund its projects.
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