Theni converted to GCPP The group successfully converted the Theni project to Group Captive, selling power to industrial customers as opposed to the local state electricity board.
First GCPP to be approved for project finance Indian Energy was the first IPP to be granted approval for project finance from State Bank of India for a group captive project.
A first for securitisation We were the first IPP in Tamil Nadu to be granted approval for using agricultural land as security for its project financing.
Acquisition by IIP In September 2011, Indian Energy was acquired by Infrastructure India plc under a Scheme of Arrangement.
Theni project finance closure Indian Energy achieved project finance closure with State Bank of India within a period of 8 weeks from initial submission.
First turbines commissioned at Theni We achieved commissioning of the first three turbines at Theni within 8 weeks of commencing work.
Theni CoD The project achieved full commissioning in August 2010, within its budgeted construction schedule.
Gadag Project CoD The group's first project achieved final commissioning in February 2009
IPO on AiM Indian Energy successfully completed an initial public offering on the Alternative Investment Market of the London Stock Exchange in September 2009. We were one of only two operating companies to raise capital on AIM in 2009. Theni Project commences… The group commenced construction at our second project at Theni in December 2009.
Gadag commences… EPC work starts early 2008 at the Gadag Project
First non-recourse project finance Indian Energy was the first IPP in India to close a non-recourse loan with an Indian lender for project financing a wind farm. This was arranged by SBI Capital Markets and funded by State Bank of India.
Group Founded Indian Energy was founded in early 2007 by professionals with backgrounds in renewable energy, emerging markets and corporate finance.
Pre-IPO Funding The company successfully completed an initial financing round in June 2007 raising GBP 10 million from various institutional and private investors
Gadag Project commences… The group commenced the development of its first project at Gadag in late 2007 with EPC work starting early 2008