Indian Energy gets financing for Theni Project

Indian Energy has received in-principle approval for financing of their entire Theni Project from the State Bank of India.

Indian Energy has entered into an agreement with ReGen Powertech for construction of the Theni Project in the State of Tamil Nadu in two phases with a generating capacity of 49.5 MW.

"We are delighted to have received in-principle approval for the project financing for the entire Theni project from the State Bank of India and further develop our strong relationship with them," said Rupert Strachwitz, Managing Director of Indian Energy.

"With site preparation underway and Phase I expected to be fully commissioned by June 2010, this project clearly demonstrates our ability to deploy capital efficiently, access
project financing and generate timely cashflows for Indian Energy," he added.