Magazine

Last edition
January 2026

Home › Renewable energy ›Indowind Energy Begins Implementation of 4 MW Solar Project, Repays INR 20.85 Crore Loan

Indowind Energy Begins Implementation of 4 MW Solar Project, Repays INR 20.85 Crore Loan

Indowind Energy has begun implementing contracts for its 4 MW solar power project while using proceeds from its Rights Issue to repay key promoter and LIC loans aggregating to about INR 20.85 crore.

January 02, 2026. By Mrinmoy Dey

Chennai-based renewable energy IPP Indowind Energy has announced that the company has commenced implementation of finalised contracts for its 4 MW solar power project.

The company has also utilised proceeds from a Rights Issue to repay INR 11.63 crore of loans availed from corporate promoters, as well as approximately INR 9.25 crore towards outstanding LIC dues for general corporate purposes.

The repayment of these obligations is expected to lower interest and related finance costs, supporting improved profitability and strengthening the company's financial position, the company said in a statement.

Commenting on the development, Bala Venckat Kutti, Promoter of Indowind Energy, said, “Our immediate focus has been on putting the company on a stronger financial footing while preparing for the next phase of growth. The steps taken over the past few months are expected to improve cost efficiency and provide greater flexibility as we move ahead with project execution. With work now underway on the solar project, we remain focused on steady progress and building a platform for sustainable performance.”

With legacy liabilities addressed, Indowind Energy is now better positioned to raise fresh borrowings for expansion. This enables the company to evaluate and undertake new projects aimed at improving turnover and long-term earnings, the company stated.

Tags:

Solar PV

Indowind Energy

Bala Venckat Kutti

Indowind Energy solar projects

Indowind Energy capital deployment