(ADPnews) - Oct 5, 2010 - British wind power producer Indian Energy (LON:IEL) announced it yesterday appointed James Smith as non-executive director.
Smith is an investment manager at British investment company Utilico Emerging Market Limited (LON:UEM). With an approximately 20.5% stake in Indian Energy, Utilico is its largest shareholder. In July this year, the company provided Indian Energy with a GBP 2 million (USD 3m/EUR 2.3m) loan to enable its further expansion in India.
"We look forward to James's involvement as we now enter the next stage of Indian Energy's expansion," Indian Energy's CEO Rupert Strachwitz commented.
Indian Energy is an independent power producer focused on acquiring, building and operating wind farms in India. Indian Energy intends to own a portfolio of Indian wind farms with a combined rated capacity of 300 MW by the first quarter of 2013.