Mytrah Energy raises $95 million for Telangana projects

HYDERABAD: Mytrah Energy is in the process of raising $95 million to fund the 100 MW wind power projects that the company is developing in Telangana.

The firm may have won rights to provide substantial portion of 350 MW solar power bids conducted by the Telangana government recently, a senior company official said.

The official, while confirming the deal, refused to divulge the details such as financier and terms of finance.

“The loan — $95 million (Rs 595 crore) — was sanctioned in end of July. We have not yet started drawing it. It will be mainly used to fund the 100 MW of wind capacity we have undertaken in Telangana,” the official told PTI.

With this, the company’s fully-funded wind construction pipeline would be 250 MW, he said.

In a recent regulatory filing, the company had said that it aims to bring 200 MW wind power online before the winter season of 2016.
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