Indian monsoon blows Greenko in right direction
The Indian monsoon helped to keep the wind turbines turning at renewable energy group Greenko in the first half, although it was late in coming.
Greenko said the annual monsoon, which usually takes place between June and September in the south-west of the country, started later than usual this year.
But it added: ‘It remains ongoing in certain locations, and Greenko’s wind assets and the Northern hydro cluster all performed well.’
Power generation increased by 89% in the first half to 1,225 gigawatts per hour, with 525 gigawatts coming from Greenko’s wind portfolio and 533 gigawatts from its hydro-electric power business.
Installed generating capacity increased by 136 megawatts to 697 megawatts in the period and 136 megawatts of new wind capacity was commissioned in the period.
Greenko said the backdrop for renewable energy in India remains positive, as conventional power assets struggle to supply power to the grid due to fuel supply and off-take price issues.