Indowind Energy, the Chennai based company, plans to infuse Rs 100 crore to generate 30 MW of wind energy in the current fiscal.
The company has proposed to increase its authorised capital to Rs 200 crore from Rs 65 crore by conversion of foreign currency convertible bonds, qualified institutional placement, preferential allotment to promoters and employees stock option, in order to raise funds for the expansion.
Indowind is in talks with the Karnataka government for additional land to increase its production capacity
Meanwhile, the company has signed an MoU with the Gujarat government for setting up 100 MW wind farm entailing an investment of Rs 650 crore. The government is yet to consider its demand for 3,000 acre for the project.
Source : ProjectsToday
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