INOX India Bags Major Contract with Highview Power for World’s Largest Liquid Air Energy Storage Project

INOX India’s Game-Changing Contract with Highview Power

INOX India Limited (INOXCVA) recently announced a monumental win by securing a contract with Highview Power, UK, to supply liquid air energy storage tanks for their upcoming LAES project in Manchester. This project, recognized as the world’s largest of its kind, positions INOX India at the forefront of energy storage innovation, expanding its influence in the clean energy sector.

Scope and Scale of the Project

The contract involves the design, manufacture, and supply of five 690-kl vertical, high-pressure vacuum-insulated cryogenic tanks. These tanks, uniquely customized for Highview Power, will support the storage and utilization of liquid air for energy. Scheduled for completion within 15 months, this project is groundbreaking as it’s the first large-scale industrial use of cryogenic tanks for clean energy storage.

Share Price Reaction to the Announcement

Following the announcement, INOX India’s share price surged by over 4%. Investors have shown enthusiasm for the company’s expanding role in energy storage and clean energy solutions, reflecting confidence in INOX India’s innovative capabilities and its growing influence in the global cryogenic equipment market.

Strengthening Clean Energy Initiatives

INOX India’s partnership with Highview Power is aligned with its commitment to supporting sustainable energy systems. Highview Power’s LAES facility will play a vital role in balancing the intermittency of renewable sources in the UK, storing up to 300 MWh of energy and providing stable power output to support grid reliability. Once operational, this facility will significantly contribute to the UK’s Net Zero ambitions.

Future Implications for INOX India and the Industry

This project not only showcases INOX India’s advanced cryogenic technology but also reinforces its leadership in clean energy storage solutions. The successful execution of this project could open doors to more such opportunities worldwide, further boosting INOX India’s market standing.

Conclusion

With this landmark contract, INOX India is making significant strides in clean energy technology, elevating its reputation on the global stage. Investors and stakeholders alike are optimistic about the company’s future as it pioneers industrial solutions for renewable energy storage.

This landmark contract has set a positive trajectory for INOX India, as reflected in its share price surge. As the world moves towards sustainable energy solutions, INOX India’s expertise in cryogenic technology could play a crucial role in meeting the rising demand for efficient energy storage solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.