Mytrah Energy Ltd : Project Update

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23 December 2013

Mytrah Energy Limited

("Mytrah Energy"or the "Company")

Project Update

Mytrah Energy Limited, the India-based independent power producer, is pleased to provide the following update on the progress at its three new sites, Burgula, Savalsang 1 and Vagrarai, which when completed will have a total capacity of 238.2 MW.  To date, across all three sites, turbines with an aggregate capacity of 150 MW are now completed, increasing Mytrah's total installed capacity from 309.9 MW to 459.9 MW.  All three projects are being commissioned on a rolling basis with the stabilisation process being conducted throughout Q1 2014, which is expected to allow Mytrah to capture the benefit of the 2014 wind season on the full portfolio of 548.1 MW.

Table providing further details on the three new projects

Project Name            State                         Capacity                 Expected PLF          

(MW)             at P50

Burgula                      Andhra Pradesh          37.424%                         

Savalsang 1               Karnataka                  100.325%                         

Vagrarai                     Tamil Nadu                100.531%                         

Burgula and Savalsang are Mytrah's first two self-development projects constructed on the Company's land with Gamesa WTGs, which provides the Company with increased diversification when combined with its turnkey agreement with Suzlon.  Vagarai is another self-development project with Regen, and is Mytrah's first project where the output will be sold under "third party sale agreements".  Vagarai is expected to be one of the Group's highest performing sites with an expected PLF (at P50) of 31%.

For further information please visit www.mytrah.com or contact:

Mytrah Energy Limited

Ravi Kailas / Alastair Cade                                              +44 (0)20 3402 5790

Investec Bank plc

Chris Sim / Jeremy Ellis                                                 +44 (0)20 7597 5970

Mirabaud Securities LLP

Peter Krens / Rory Scott                                                 +44 (0)20 7878 3360

St Brides Media & Finance Limited

Elisabeth Cowell / Frank Buhagiar                                   +44 (0)20 7236 1177