Indowind Energy Ltd Company Summary

Indowind Energy Ltd Summary

Indowind Energy Limited was incorporated as Indowind Energy Private Limited on July 19, 1995. The Company became a deemed public limited company on September 30, 1997 and was converted into a public limited company on December 29, 2000. The Company is engaged in the business of generation and distribution of power through windmills.Mr. K.V. Bala and Subuthi Finance Limited have promoted the Company with the main object of developing wind farms on a large scale for commercial exploitation, generating energy from Wind Mills, Wind Turbines and other Equipment and selling it to State Electric Boards and Corporate clients.The Company commenced its commercial operation of generating power on September, 1995 by setting up 225 KW Wind Electric Generator in Tamil Nadu. Since then, it grew the business by acquiring and operating brownfield windmills from third parties and also by developing greenfield projects. The Company has been raising its generation capacity every year and the same was increased to 16.825 MW. The Company altered its main object clause to include the activities of manufacturing equipments of windmills under the purview of its business; a unit was set up in Puducherry through which the Company has provides total solution for installation, operation and maintenance of windmills for third parties.The company has purchased WEGs from reputed suppliers like NEPC-MICON, VESTAS-RRB, AMTL-Wind World and AWT to avoid dependence on single technology and single manufacturer. The company has offer Green Power to customers that include SEBs and Corporates. Other than the above company has also into the business of providing Operations and Maintenance services for windmills. Recently, the company has ventured into turnkey projects for erection, installation and maintenance of windmills for corporate companies. The company has worked continuously to strengthen infrastructure and enhance the presence in this sector. The company has been selling the power generated to Tamil Nadu Electricity Board (TNEB) and various private corporate clients in Karnataka such as Hindustan Coca Cola Beverages Private Limited, Karnataka Distilleries Limited, United Breweries Limited, H&R Johnson India Limited, Delphi Automotive Systems Private Limited and Spicer India Limited. The electricity charges recovered for the corporate clients in Karnataka are more than the revenue generated from the sale to SEBs. Since the wheeling charges under the new policy are very exorbitant, the company has decided to sell the power generated from the proposed 9 MW project to BESCOM (KPTCL) where the realization per unit is higher as compared to sale to private corporate clients under the current guidelines.The Company restructured the asset holdings and has formed a subsidiary Company called Indowind Power Private Ltd., which was incorporated during August 2010. In 2013-14, the newly added 2 MW wind farm started contributing for the energy production. The company also added a 0.25 MW capacity in Tamil Nadu during the year and completed 2 MW repowering in Tamil Nadu. It completed the transmission line works for 1.92 MW capacity wind farm in Hanumasagar, Karnataka from 11 KV to 66 KV line. During 2015-16, the Company acquired 4.2 (MW) wind farm capacity along with other efficiency improvement projects. It completed repowering of 13 Nos. WEGs-4 machines of 250 KW and 9 machines of 225 KW capacity in Tamil Nadu during 2016-17.As on March 31, 2020, the installed renewable energy capacity stood at 87.02 GW, of which, solar and wind comprised 34.62 GW and 37.69 GW, respectively. As on March 31, 2022, the installed renewable energy capacity stood at 163.38 GW, of which, solar and wind comprised 53.99 GW and 40.35 GW, respectively.The Company acquired 100% of the equity share capital of Ind Eco Ventures Limited during the year 2023-24 and thereby increased the capacity of the wind Mills by 3.675 MW Wind Mills in Tamil Nadu.