Indowind Energy Limited on Friday announced key financial and operational updates, highlighting a focus on balance-sheet strengthening and steady execution of renewable energy projects.

As part of the utilisation of rights issue proceeds, the company has repaid ?1,163 lakh in loans to corporate promoters and around ?925 lakh towards outstanding LIC dues, leading to a significant reduction in legacy liabilities. The repayments are expected to lower interest and finance costs, supporting improved profitability going forward.

With older liabilities addressed, the company said its balance sheet reset has created headroom for raising fresh borrowings, enabling it to fund expansion plans and evaluate new growth opportunities aimed at improving turnover and long-term earnings.

On the operational front, Indowind Energy has initiated execution of its 4 MW solar power project, with implementation of finalised contracts now underway. The project marks the transition from planning to execution and is expected to contribute to future revenue streams.

The company said it will continue to focus on disciplined capital deployment and timely project execution, leveraging its strengthened financial position to pursue growth in the renewable energy segment.