Mytrah Energy Limited Acquires 59.75 MW of Indian Wind Assets
Further to the announcement made on 13 March 2013, in which Mytrah announced that is had agreed conditional terms to acquire 59.75 MW of existing operational wind power assets in the Indian States of Tamil Nadu and Maharashtra (the "Acquisition"), Mytrah is pleased to announce that it has received conditional offers for the debt financing. This Acquisition remains subject to regulatory approval and formal documentation and the Company looks forward to providing further updates in due course.
Under the proposed terms of the Acquisition, the effective date for completion of the proposed Acquisition will be October 2012. As a result, if concluded, Mytrah Energy will have the economic benefit of the Acquisition from October 2012 and therefore during the 2013 Indian wind season, which normally runs from the beginning of March to the end of September.