Inox Wind to Execute 200 MW Project Across Gujarat and Rajasthan

On July 9, 2024, Inox Wind Limited (IWL) informed in a stock exchange filing that the company had secured a significant order for 200 MW from a renewable C&I (Commercial and Industrial) power producer.

The company stated that the order specifically entails Inox Wind’s latest 3 MW Wind Turbine Generators (WTGs) and includes end-to-end turnkey execution services. Moreover, Inox Wind will be responsible for providing post-commissioning multi-year Operations and Maintenance (O&M) services.

They further added that this project is slated to be executed across the states of Gujarat and Rajasthan, underscoring Inox Wind’s expanding footprint in the renewable energy sector in India. The contract not only highlights their capability to deliver advanced wind energy solutions but also reinforces their commitment to sustainable energy practices and comprehensive client support through Operations and Maintenance services.

Speaking on the significant order win, the CEO of Inox Wind, Mr Kailash Tarachandani, said, “We are pleased to announce a large turnkey order for 200 MW. Inox Wind continues to be a preferred partner for renewable project developers, given our capabilities and credentials to deliver large scale wind projects. I believe this, along with our existing order book and strong order pipeline, reinforces our commitment towards achieving substantial growth in FY25 and beyond.”

Meanwhile, Inox Wind recently finalised an infusion of approximately ₹900 crore into the company by its promoter, Inox Wind Energy Limited (IWEL). IWEL raised these funds on May 28, 2024, by selling equity shares of IWL through block deals on stock exchanges, with participation from prominent investors. The capital will be used by Inox Wind to fully repay its external term debt, with the aim of achieving a debt-free status.

About Inox Wind Ltd

Inox Wind Limited, a division of the Inox Group, specialises in manufacturing Wind Turbine Generators (WTGs) and offers comprehensive wind energy solutions. The company caters to a diverse clientele, including IPPs, Utilities, PSUs, Corporates, and Retail Investors. Inox Wind Ltd operates as a fully integrated entity within the wind energy sector, providing complete turnkey solutions from inception to execution.

On July 9, 2024, the share price of Inox Wind Limited opened at ₹165.00, touching the day’s high at ₹168.90, as of 10:25 AM on the NSE.

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.