Greenko Reports Half Yearly Results; surging ahead with it's Plans to install 1GW of Green Power

Tuesday, December 18, 2012 0 comments

 Greenko's Ratnagiri Wind Project

Greenko (link), a leading Renewable Energy Developer in India, which mainly focus on hydro power and wind power is surging ahead with it's Plans to install nearly  1 GW of Green Power by 2015.

This is cemented by it's Half Yearly Financial Report (link), which was released on Dec 13th. It's Revenues saw a 28.1% jump, and adjusted EBITDA grew 57.1%. Greenko's Chairman Y Harish Chandra Prasad said the "The Company is in excellent shape, with robust operating cash flows and a balance sheet capable of taking it to a 1,000 MW in 2015.  Financial growth was significant, helped by the addition of new operational hydro projects, a new wind project and turbines starting to go up at our next 100 MW wind farm.  Including our on-going construction work, this resulted in over €116 million of net assets being added to the balance sheet".

Key Operating Highlights:
  • Assets generating power reached 275 MW and shortly after the period end, the Power generation reached 289 MW.
  • Phase 1 of Ratnagiri Wind Farm (100.8 MW) started to Generate Power.
  • 500 MW of Projects Under Construction, which includes Basvanbagewadi Wind Farm (100.8 MW), Balavenkatpuram Wind Farm (100.8 MW) and Devgarh Wind Farm (49.5 MW).
  • Jaisalmer (100+ MW) and Devgarh Wind Farm (49.5 MW) has been moved to Advanced developing phase. 
  • GE (link) will Provide most of new Wind Turbines for the upcoming Projects. But the Devgarh project will be using the Vensys-82 1.5 MW Turbines by ReGen Power Tek (link).
  • Company also noted that progress has continued with the 187.6 MW of hydro projects currently in-construction.
Article Written by Rahul R Prabhu
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