Mytrah Energy has signed an agreement for the development of up to an additional 2,800MW of wind capacity in Andhra Pradesh, south-east India.
As part of the memorandum of understanding with the government of Andhra Pradesh, Mytrah Energy (India) has exclusive rights to develop wind farms for the next seven years in areas which have strong wing potential.
The company expects the state to become a major driver of growth for wind installations in India - it is thought to have a technical potential in excess of 11,000MW, compared to a current installed base of just 150MW. Furthermore, the state yesterday announced a policy for the Renewable Power Obligation (RPO) and Renewable Energy Certificate (REC), which are expected to accelerate the development of wind assets in the area.
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"We are happy to build on our association with Andhra Pradesh, an industrialised and wind rich state, to build 2,800 MW of wind projects. In addition, we are pleased that the state has announced a progressive policy for the new REC and RPO regulations," said Chairman and Chief Executive Officer Ravi Kailas.
Kailas said that Mytrah is well-positioned to become India's largest wind IPP (independent power producer) during 2012 and is at the forefront of wind development in the country.
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