Mytrah Energy Ltd : Re-introduction of GBI Incentive Scheme

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12 September 2013

Mytrah Energy Limited

("Mytrah Energy"or the "Company")

Re-introduction of GBI

Reintroduction of GBI

The Company is pleased to note that the Ministry of New & Renewable Energy of the Government of India formally announced the detailed scheme for the re-introduction of Generation Based Incentive ("GBI") in India on 4 September 2013.  The re-instated GBI scheme provides an incentive, to qualifying wind assets commissioned on or after 1 April 2012, of 50 paise (Rs. 0.50) per kWh produced, up to an increased cap of Rs. 10m (US$158,000) per MW installed under the new GBI scheme compared to Rs. 6.2m (US$ 115,000) per MW installed under the old GBI scheme.

Following the announcement of the re-introduction of the GBI scheme, the Company is pleased to confirm that all of its existing projects, totalling 309.9 MW, and the 238.2 MW under development qualify for the GBI scheme, with 186 MW qualifying under the old GBI scheme and 362.1 qualifying under the new GBI scheme.

Projects qualifying under the old GBI scheme

Project Location             State                Capacity (MW)

Tejva                             Rajasthan                       42.0

Mahidad                        Gujarat                           25.2

Chakala                        Maharashtra                    39.0

Kaladongar                    Rajasthan                       58.8

Jamanwada                   Gujarat                           12.6

Vajrakayur                     Andhra Pradesh               8.4

Total      186

Projects qualifying under the new GBI scheme

Project Location             State                Capacity (MW)

Kaladongar                    Rajasthan                        16.8

Jamanwada                   Gujarat                            39.9

Vajrakayur                     Andhra Pradesh               54.6

Sinner                           Maharashtra                    12.6

Burgula                         Andhra Pradesh               37.4

Savalsang                     Karnataka                      100.3

Vagarai                         Tamil Nadu                    100.5

Total     362.1

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

Mytrah Energy Limited

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

Strand Hanson Limited

James Harris / Richard Tulloch / Angela Hallett                 +44 (0)20 7409 3494

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