State Bank of India has underwritten the entire debt facility of INR680 million (~€11.5m) and SBI Capital Markets Limited acted as lead arranger and advisor.
Indian Energy has entered in to an agreement with ReGen Powertech Private Ltd for the construction of a 49.5 MW wind farm at Theni.
The wind farm is being constructed and commissioned in two phases. The 16.5 MW represents phase I and is scheduled to be fully commissioned by June 2010. The first 3 of 11 turbines have been commissioned and are generating power to the grid.
Indian Energy has entered in to a 20 year Power Purchase Agreement with the Tamil Nadu Electricity Board for the sale of power at a price of INR3.39/kWh (~€0.06/kWh).