Caparo Energy finalises debt facility

30th Dec 2010 10:05

India-focused wind power generation investor Caparo Energy unveiled a $0.44m loss in its first set of interim results since listing on AIM in November.The company has yet to make its first set of investments but remains in discussion with Suzlon Energy regarding the roll out schedule or the first set of assets to be delivered under the terms of the business partnership agreement (BPA) signed in May 2009.As part of those discussions, the company has sought to increase its level of visibility regarding the roll out schedule for further assets beyond the initial projects mentioned in the company's AIM admission document, which may require the company to agree to certain concessions to the BPA. The directors look forward to announcing the details of the first purchase orders signed in connection with the initial projects, and providing a further update to shareholders, early in the New Year.The company said it has finalised details of the senior debt facility of 4,550 Indian rupees with Infrastructure Development Finance referred to in its admission document.Since admission to AIM, the board has been in a number of discussions regarding the provision of additional external financing.Cash and cash equivalents at the end of September stood at $0.21m.