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Mytrah Energy plans expansion
Mytrah Energy, a city-headquartered renewable energy firm, said it was planning to add 500 MW to 1,000 MW every year of wind and solar power. Mytrah Energy, a city-headquartered renewable energy firm, said it was planning to add 500 MW to 1,000 MW every year of wind and solar power.
Hyderabad: Mytrah Energy, a city-headquartered renewable energy firm, said it was planning to add 500 MW to 1,000 MW every year of wind and solar power. Mytrah's current portfolio of 2,000 MW should be fully operational within the next few quarters, Vikram Kailas, Chief Executive Officer of Mytrah Energy, said here. Kailas was here to speak at Global Entrepreneurship Summit (GES).
"The exact amount of capacity we sign up for will depend on the kind of opportunities that present themselves. We have always believed that each project that we take up should be independently viable. We will continue to use the same yardstick going forward even if this results in lower capacity addition in a given year," he said.
The firm, listed on the AIM of London Stock Exchange, has 1,500 MW of projects in wind and 500 MW in solar. The company had forayed into solar about two years. The company will remain equally focussed on wind and solar energy.
"We may end up doing more wind projects in one year and more solar projects in another depending on where the opportunities present themselves," he said. He believes the Indian renewable power sector is going through an interesting phase.
"The sector has seen a dramatic fall in prices over the last few years culminating in the sub-Rs 3 tariffs in auctions held a few months ago. This meant that the industry had reached a stage where tariff for renewable power was clearly lower than for power produced from coal, gas and other conventional sources," said Vikram. He is of the view that recent SECI bid for 5MW project indicates that the sector is maturing.
