Mytrah Vayu (Pennar) Private Limited

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Mytrah Energy Limited entered into an agreement with Andhra Pradesh Government, to develop 63MW wind power project at Vajrakarur village in the state of Andhra Pradesh. Mytrah established Mytrah Vayu (Pennar) Private Limited, a special purpose vehicle, to execute this project. The wind farm would involve the building of 30 wind turbines of Suzlon S88 model of 2.1MW capacity each.The electricity generated from the project would be evacuated by Southern grid of India. The EPC for the power plant had been awarded to Suzlon Energy Limited. Suzlon would develop, construct, commission, operate and maintain the project at an all-inclusive price. Mytrah Vayu (Pennar) Private Limited was expected to sell the power to Andhra Pradesh Central Power Distribution Company Limited (Andhra Discom )- for entering into Power Purchase Agreement. The APPC (Average Power Purchase Cost) 25-year base feed-in tariff as per APERC (Andhra Pradesh State Regulator) tariff order, was US$ 0.088/Unit (INR 4.70 per unit @ 53.44INR/USD). The transmission charges would be paid by Mytrah to the state transmission utility. The total capacity of 63MW was eligible for CDM benefits and the company had initiated the process with UNFCC. Details of financial closure were not available.The total project cost estimated based on UNFCC Project Design Document (Suzlon quotations) was US$ 72.6mn (INR 3881mn @53.44 INR/USD). As per company announcement to the market, the project was fully commissioned in the April 2012 to July 2012 quarter. Till further validated information, we are considering July 2012 as the financial closure date for the purpose of this database.