Mytrah, the India-based wind energy developer, has secured a US$137.5 million long-term loan to fund the development of 150 megawatts of capacity in the country.
The loan will be used as long-term project finance debt for the wind project portfolio, which is now fully financed and expected to start operating in the next 12 months. The company did not disclose details of the financier but said it was a leading Indian financial institution.
Mytrah has an installed wind capacity of 543MW. It claims to have a development pipeline of 3,500MW.
Mytrah also said it has secured the rights to build a 220-MW project with the state government of Andhra Pradesh.