Indowind Energy

What Indowind Energy does

Indowind Energy is a Chennai-headquartered, publicly listed independent power producer (IPP) focused on wind energy generation in India. Founded in 1995 and listed on the Bombay Stock Exchange in the 'B' group under the ticker Indowind, the company develops, owns, and operates wind power assets and sells the electricity generated from these assets to state power distribution utilities under long-term Power Purchase Agreements (PPAs). Its customer base is exclusively institutional utility offtakers, and its revenue model is volume-based generation tied to tariff structures defined in PPAs and to India's Renewable Purchase Obligation (RPO) policy framework.

In FY26, Indowind reported revenue of Rs 40.75 crore, up approximately 13.8% year-over-year, against a headcount of 51-100 employees. The company is led by Whole-time Director NK Haribabu, with no separately disclosed CEO or Managing Director. FY26 results showed a swing from a Rs 1.70 crore profit in FY25 to a full-year loss, with Q4 FY26 alone reporting a Rs 7.46 crore net loss, and the company resubmitted its Q4 FY26 results to address XBRL/PDF disclosure discrepancies.

The company's current strategic agenda centers on capacity expansion and vertical diversification. In December 2025, Indowind announced the acquisition of a 5.1 MW operational wind project for an estimated INR 200-250 million with repowering plans, raised Rs 49.43 crore via a rights issue for a solar power plant and loan repayment, and disclosed plans for a hybrid solar-wind project. A January 2026 board meeting is to consider increasing authorized share capital and additional fundraising, signaling continued reliance on equity capital to execute the renewables pipeline.

Name

Indowind Energy

Legal name

Indowind Energy Limited

Website

https://indowind.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Indowind Energy is a Chennai-headquartered, publicly listed Indian wind power independent power producer that generates and sells electricity from owned wind assets to state distribution utilities under long-term power purchase agreements.

Ownership category

akta.pro rank

Product category

Wind Power Generation

NAICS

Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Hybrid Wind Power Plants (Wind+Solar+Storage Co-located) (EUACAFAH), Development-Stage M&A & Portfolio Acquisition (Early-Stage/Ready-to-Build) (EUAMAAAF), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

Keywords

• Wind power generation
• Independent power producer
• Renewable energy generation
• Wind farm operations
• Power purchase agreements

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Others

Revenue model

1. Wind Power Generation and Sales: Operating wind power projects and selling electricity generated. The company operates wind turbine assets to generate revenue through power sales agreements.

Distribution channels1 record

Marketing channels1 record

Core offering

Indowind Energy is a Chennai-based Independent Power Producer (IPP) that develops, owns, and operates wind turbine assets to generate electricity, which it sells to power distribution utilities and grid operators under long-term Power Purchase Agreements. The company is also expanding through acquisition of operational wind projects with plans for repowering and the development of hybrid solar-wind projects.

Product overview

Indowind Energy is a Chennai-based wind power Independent Power Producer (IPP) operating in the renewable energy sector. The company generates electricity from wind energy and has been expanding its portfolio through acquisitions and hybrid project development. The company operates wind power assets and is pursuing growth through acquisition of operational wind projects and development of hybrid solar-wind projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Power Generation

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Adani Green Energy: India's largest renewable IPP by capacity, with significant wind and solar generation. Comparable in business model (PPA-based renewable generation) but at vastly greater scale and with broader solar/wind portfolio.
• Inox Wind: Indian wind turbine manufacturer and IPP. Overlaps with Indowind in wind power generation and shares the same Indian wind market, but is primarily a turbine OEM with a captive IPP arm.
• Greenko Group: Large Indian renewable IPP with wind, solar, and hydro-plus-storage projects. Comparable in renewable generation business model, with a stronger focus on hybrid and storage that aligns with Indowind's planned hybrid projects.
• Suzlon Energy: India's largest wind turbine OEM and a major wind IPP. Comparable to Indowind on the wind generation side, but operates at vastly larger scale and also manufactures turbines.
• ReNew Power: One of India's largest renewable IPPs with significant wind and solar capacity. Comparable to Indowind as an IPP selling power under long-term PPAs, but operates at materially larger scale.
• Torrent Power: India's integrated power generation and distribution utility with growing renewable (wind + solar) capacity. Comparable on the renewable IPP side, with the added backing of a regulated distribution business.
• Tata Power Renewables: Renewable energy arm of Tata Power, operating solar, wind, and hybrid projects across India. Comparable to Indowind's planned hybrid wind-solar build-out but with corporate backing and larger project pipeline.

Emerging players

• Azure Power: India-focused solar IPP with a NYSE listing and growing wind exposure. Broadly comparable in PPA-based renewable generation, but predominantly solar rather than wind.
• Hero Future Energies: India-based renewable IPP with wind, solar, and hybrid projects. Comparable in IPP business model and hybrid focus, though typically larger in project scale than Indowind.

Direct peers

• Orient Green Power: India-listed pure-play wind and biomass IPP. Most directly comparable to Indowind in scale, business model (PPA-based electricity sales), and Indian wind focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks7 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indowind Energy