02/09/2009 The London Stock Exchange welcomes Indian Energy to AIM.
The London Stock Exchange welcomed Indian Energy to AIM, the Exchange’s global market for growing companies.
Indian Energy is an independent power producer, focused on becoming a long-term operator of wind farms in India. The Company currently owns and operates a 24.8 MW wind farm at Gadag near Hubli in Karnataka and intends to own a portfolio of wind farms in India with 300 MW of annual generating capacity by the end of the 2012/13 financial year. The company is focused on building a portfolio of wind power generating assets in a fragmented market. India has the fifth largest installed capacity of wind generating assets by country in the world, with wind energy well developed as part of the overall renewable energy production in India with considerable growth prospects and proven technology.
Rupert Strachwitz, Managing Director of Indian Energy, said:
"We are delighted by the strong support we have received from both new and existing shareholders for our listing on AIM. The support received is a clear endorsement of the strong opportunity that Indian Energy has of becoming a major IPP player in the established and growing Indian wind power market. ”
Arden Partners acted as the company’s Nominated Advisor and the company raised approximately £9.75 million on its admission to AIM.