Ind-Barath Power Infra Limited

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Ind-Barath Power Infra Limited (wind farm) developed a 0.75 MW wind farm power plant Idukki, Kerala. The power plant was commissioned in April 2008. Power was sold to KSEB under long term purchase agreement. Pursuant to our agreement with the Kerala State Electricity Board (“KSEB”), dated March 26, 2008, we sell 0.75 MW of power per month at an average tariff rate of Rs. 3.14 per kWh. This agreement is valid for twenty years from the date of commissioning of the power project. We provide a 2.0% prompt payment discount to the KSEB for any payments received by us before due date. The total cost of the power project was approximately Rs. 42.57 million (US$1.03 million). The project reached financial closure in 2007. Of this amount, approximately Rs. 30.00 million was financed through debt and the balance of Rs. 12.57 million was funded through equity contributions from our Company and other shareholders.