Independent power producer Mytrah Energy Ltd is set to increase the total installed capacity of the company’s wind assets to 500 MW by March next.
"From about 250 MW of capacity now installed across four States of Maharashtra, Rajasthan, Gujarat and Andhra Pradesh, we will increase this to 400 MW over the next three four months and this may go up past 700 to 800 mw by March 2013 if a favourable tariff structure is evolved in Andhra Pradesh," Mr Ravi Kailas, Chairman and Chief Executive of Mytrah Energy, said.
In Andhra Pradesh, the company has an installed capacity of 60 MW of wind farms and is ready to develop another 200 MW by March next, he said.
Of the expansion now under way, 150 MW of wind power assets are at advanced stages and they are likely to be commissioned over next few months in a phased manner, he said.
The increase in tariff structure from Rs 3.50 paise per unit and the mechanism to trade in Renewable Energy Certificates and signing up of power purchase agreements would help the company accelerate projects in Andhra Pradesh. Recently, Andhra Pradesh Electricity Regulatory Commission had approved some changes but they need to be implemented.
Mr Kailas said that the company has closed funding requirement for about Rs 1,000 crore of equity and has tied up Rs 2,000 crore debt from various lenders. This is adequate to see us through the ongoing expansion plan now under way. "If need be we will raise funds as we take up new projects," he said.