IHDC - Monsoon Damage

RNS Number : 5739O

Infrastructure India plc

07 August 2014

 



7 August 2014

Infrastructure India plc

("Infrastructure India" or "IIP")

India Hydropower Development Company - Monsoon Damage

Infrastructure India plc, the infrastructure fund investing directly into assets in India, has been notified that India Hydropower Development Company LLC's ("IHDC") 4.9 MW Darna plant in Maharashtra (the "Darna Plant") suffered extensive damage as a result of very heavy monsoon rainfall in the catchment area and abnormally high inflows to the Darna reservoir.  IHDC, in which IIP has a 50% interest, is a developer of small hydropower projects, with six operational projects and an aggregate installed capacity of 62 MW. The Darna Plant accounts for 7.9% of IHDC's installed capacity.

The Darna Plant is currently out of operation. The damage to the plant includes the collapse of an external wall of the outer structure and water damage to electromechanical equipment. No personnel have been injured. The plant is insured against property damage and resulting loss of operating revenue. IHDC is working with the insurer to verify the scope of coverage. IHDC's other projects in Maharashtra, Bhandardara I and Bhandardara II are operating normally.

The Company, together with IHDC, is currently assessing the damage and will update shareholders, as appropriate, in due course.

Enquiries:

Infrastructure India plc        Sonny Lulla	www.iiplc.com Via Instinctif Partners
Smith & Williamson Corporate Finance Limited Nominated Adviser & Joint Broker Azhic Basirov / Ben Jeynes	[phone]
Nplus1 Singer Advisory LLP Joint Broker Gillian Martin - Corporate Finance James Waterlow - Investment Fund Sales	[phone]
Instinctif Partners Financial Public Relations Toby Bates	[phone]

 

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