The company most recently commissioned an additional 50MW of new capacity last
week.

“We are very pleased to have commissioned further wind projects on schedule,
and we remain on target to reach roughly 700 MW of total operating capacity
across our entire portfolio ahead of this year’s wind and monsoon season
(July),” said Anil Chalamalasetty, the chief executive.

The shares currently trade on a forecast price earnings ratio of 18.1 times,
but with the rapid growth that falls to 14.6 times next year.

House broker Investec has a bullish 275p price target based on successful wind
farm growth.

India has serious structural power shortage problems and that should help
underpin this growth. High risk this one, but a speculative buy.