Projects Today reported that Chennai based Indowind Energyplans to infuse INR 100 crore to generate 30 MW of wind energy in the current fiscal.

However, it has proposed to increase its authorized capital to INR 200 crore from INR 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, it has signed a MoU with the Gujarat government for setting up 100 MW wind farm entailing an investment of INR 650 crore. The government is yet to consider its demand for 3,000 acre for the project.

(Sourced from Projects Today)