News Brief | September 2016
GE to invest upto $31 million in Mytrah wind project
Mytrah Vayu (Tungabhadra) Private Limited (MVTPL), a subsidiary of Mytrah Energy (India) Private Limited (MEIPL), has entered into a definitive agreement with Guayama PR Holdings BV, an investment vehicle of GE Energy Financial Services, whereby GE has agreed to invest upto $31 million in MVTPL to support the development of a 200 MW wind energy project in Andhra Pradesh. GE will invest up to 49 per cent of the capital of MVTPL. Talking on this, Ravi Kailas, Chairman and CEO, Mytrah Energy Ltd said that attracting investment from GE is a huge endorsement of their operation and growing position in India´s power market. With Mytrah on track to reach 1,000 MW operating capacity by mid-2017, these new funds will help to maintain positive momentum as the company enters the next development stage and support the construction of a major power project.