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Indowind Energy - Outcome of Board Meeting

Indowind Energy Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 07, 2008, inter alia, has taken the following decisions:

1. The Board considered and decided to establish a subsidiary / joint venture Company at UAE.

2. This subsidiary / joint venture Company would be carrying on all kinds of business related to renewable energy.

3. The proposed Company will also provide all kinds of services including installation, commission, operation and maintenance of all kinds of power generation equipments, machineries and plants.

4. The Company will also carry on business of manufacturing, selling, exporting, importing and dealing all kinds of power generation equipments including wind mills, wind turbines, solar panels, solar modules, wave energy generators, bio-mass and bio-gas plants and all other conventional renewable power generation equipments and spares of power generation equipments.

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