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News Brief | May 2013

Mytrah Energy plans to 'blow' away India's power woes

India, although being a power deficient country and the first wind turbine having been set up in Gujarat almost 25 years back, no one has looked at wind energy as a serious business until a decade ago. India, despite having the fifth largest installed wind power capacity in the world, the wind power sector has been largely ignored. The wind energy business has been primarily driven by tax breaks offered by state governments and has not been seen as a viable option to address India's power woes. However, this did not prove to be a deterrent for the entrepreneurs Ravi and Vikram Kailas as they decided to tap into the sector and setup Mytrah Energy in 2010. Despite the gloom in the financial world with banks turning conservative Mytrah Energy has been backed by almost 12 financial institutions in India and has raised about Rs 4,000 crore of debt and equity capital from some of the largest investors in the world.
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