BinduVayuUrja raises Rs 960 crore
BinduVayuUrja Pvt Ltd, a wholly owned subsidiary of Mytrah Energy (formerly Caparo Energy) has secured Rs 960 crore of loan funding.
According to the company’s website, BinduVayuUrja has secured funding of $192 million, of which $120 million (Rs 600 crore) has been underwritten by Infrastructure Development Finance Corporation. The balance $72 million (Rs 36 crore) is at “an advanced stage of syndication.”
In addition, Mytrah Energy India Ltd, another wholly owned subsidiary of Mytrah Energy, has raised $20 million (Rs 100 crore) from PTC India Financial Services Ltd. “It is expected that relevant documentation and drawdown of this tranche will be completed in mid-January 2012.
Suzlon, Gamesa win orders
Since the announcement of the Group’s final results in September 2011, MEIL has finalised the terms of specific purchase orders placed with Suzlon for a further 63 MW of wind projects, and with Gamesa Wind Turbines Pvt Ltd for “an initial order of 79.9 MW”. When combined with the 100.8 MW ordered in February and the 260 MW ordered in August, Mytrah Energy India will have 11 with total capacity of 500 MW by the end of calendar year 2011.
All these projects will sell power at rates upwards of Rs 5, taking into account the ‘generation based incentives’, the Web site said.
