Indowind Energy mulls raising up to USD 24m for expansion

Indian wind power producer and project developer Indowind Energy Ltd (BOM:532894) is considering raising INR 2 billion (USD 24m/EUR 22m) to finance an expansion of its business, according to a bourse filing on Wednesday.

The company’s board of directors will meet on January 8 to discuss raising equity capital in one or more tranches. At the meeting, they will also consider and approve a review of an ongoing preferential issue of warrants, according to the announcement.

Indowind is a renewables-focused independent power producer (IPP) that operates wind farms. The company offers green power supply, project and asset management services, as well as value addition services.

(INR 10 = USD 0.120/EUR 0.110)

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