Mytrah Energy to Invest $176.4m in Wind Power Projects in Andhra Pradesh, India - Deal Analysis from GlobalData

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Mytrah Energy to Invest $176.4m in Wind Power Projects in Andhra Pradesh, India - Deal Analysis from GlobalData Powered By Docstoc
					            Mytrah Energy to Invest $176.4m in Wind Power Projects in
             Andhra Pradesh, India - Deal Analysis from GlobalData
        Reference Code: GDAE0122M&A                                                                                                                  Publication Date: February 2012


        1      Table of Contents
        1 Table of Contents.................................................................1
         1.1 List of Tables .................................................................1
        2 Summary .............................................................................2
        3 Mytrah Energy to Invest $176.4m in a Wind Power Project
          in Andhra Pradesh, India .....................................................2
         3.1 Deal Overview ...............................................................2
         3.2 Deal in Brief ...................................................................2
         3.3 Rationale Behind the Investment...................................2
         3.4 Comparable Deals.........................................................2
         3.5 Key Features of the Deal ...............................................2
           3.5.1    Largest Senior Debt Funding Placement for a
                    Wind Focused Renewable IPP.............................2
           3.5.2    Location, Projects Size, Equipment Provider and
                    Delivery Schedule for the Funded Projects ..........3
         3.6 Key Drivers of the Deal .................................................3
           3.6.1    Growing Investor Interest in the Indian Renewable
                    Sector is Boosting the Confidence of Lenders .....3
           3.6.2    Mytrah is Focused on Becoming the Leader for
                    Utility Scale Wind Projects ...................................3
         3.7 Company Overview .......................................................3
           3.7.1    Mytrah Energy Limited .........................................3
        4 Appendix ..............................................................................3
         4.1 Abbreviations.................................................................3
         4.2 Methodology ..................................................................4
           4.2.1    Coverage..............................................................4
           4.2.2    Secondary Research ............................................4
           4.2.3    Primary Research ................................................4
           4.2.4    Modeling and Forecasting ....................................4
         4.3 Contact Us.....................................................................4
         4.4 Disclaimer......................................................................5



        1.1       List of Tables
        Table 1:       Renewable Power Market, India, Comparable Deals
                       .................................................................................2
        Table 2:       Abbreviations ............................................................3




                                                                                                                                                         GDAE0122M&A /Published FEB 2012/
Mytrah Energy to Invest $176.4m in Wind Power Projects in Andhra                                                                                                                          Page 1
Pradesh, India                                                                                              © GlobalData. This report is a licensed product and is not to be copied, reproduced,
                                                                                                                                                                    shared or resold in any form
                                                                                 The company has recently signed a MoU with the Andhra
                                                                                 Pradesh government for 2,800 MW over seven years, with a
        2     Summary                                                            total outlay of $33,310m (INR17,500m). The company also
        Mytrah Energy (India) Ltd. (MEIL), a renewable energy                    suggested the government of Andhra Pradesh to increase the
        company with an Independent Power Producer (IPP) profile has             tariff for wind energy farms from $0.068/unit (INR3.50/unit) to
        announced an investment of $176.35m (INR9,000m) in the                   $0.088/unit (INR4.50/unit) to encourage more wind project
        construction of an onshore wind power project in Andhra                  development. The deal firms their commitment to developing
        Pradesh, India. The funding was secured through its wholly               renewable energy. Once wind tariffs are revised upward, more
        owned subsidiary Bindu Vayu Urja Private Limited. The secured            projects will be viable to increase the wind development in the
        funding will be utilized to build two onshore wind farms with a          state.
        total capacity of 150 MW by June 2012. The major share of the
        funding was secured from IDFC.                                           3.4      Comparable Deals

        3     Mytrah Energy to Invest $176.4m in a                                 Table 1:    Renewable Power Market, India, Comparable
                                                                                               Deals
              Wind Power Project in Andhra Pradesh,
                                                                                                                                                   Deal
              India     
				
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Description: Mytrah Energy (India) Ltd. (MEIL), a renewable energy company with an Independent Power Producer (IPP) profile has announced an investment of $176.35m (INR9,000m) in the construction of an onshore wind power project in Andhra Pradesh, India. The funding was secured through its wholly owned subsidiary Bindu Vayu Urja Private Limited. The secured funding will be utilized to build two onshore wind farms with a total capacity of 150 MW by June 2012. The major share of the funding was secured from IDFC.
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