Inox Wind Secures 550 MW Wind Power Project, Boosts Order Book to 3.5 GW

On September 18, 2024, Inox Wind Limited (IWL), a leading wind energy company in India, received a Letter of Intent (LoI) from IGREL Renewables Ltd (IGREL) to develop 550 MW of wind power. 

This project involves supplying, installing, and commissioning Wind Turbine Generators (WTGs) and providing multi-year operations and maintenance services after the installation. The project, which will take place over the next 24 months, will be spread across several sites in Gujarat, Rajasthan, and Madhya Pradesh. This new LoI adds to an existing order of 200 MW and increases IWL’s total order book to over 3.5 GW.

Commenting on the occasion, Mr Kailash Tarachandani, Group CEO of Inox Wind, said, “This is yet another milestone for Inox Wind and puts our company on a firm footing to achieve our 2 GW annual execution vision, which we aim to accomplish in FY27 with our large order book. With robust sectoral tailwinds and IWL’s strong positioning, which has all the levers in place, we are primed to capitalise on the large opportunity in the sector over the next decade.”

In their recent press release on September 12, 2024, following its board meeting on September 2, 2024, Resco Global Wind Services Pvt. Ltd., an EPC Projects subsidiary of Inox Wind Limited, has announced the completion of a ₹350 crore equity raise from prominent investors. Securities were issued in exchange for the funds.

About Inox Wind

Inox Wind Limited (IWL) is a top provider of wind energy solutions in India, serving Independent Power Producers (IPPs), Utilities, Public Sector Undertakings (PSUs), and corporate investors. IWL is part of the INOXGFL Group, a US$ ~12 billion company with over 90 years of history, focusing on chemicals and renewable energy. IWL operates as a fully integrated player in the wind energy sector, with four advanced manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh. These facilities produce Blades, Tubular Towers, Hubs, and Nacelles. IWL’s manufacturing capacity is approximately 2.5 GW per year, featuring its advanced 3 MW series Wind Turbine Generators (WTGs).

On September 18, 2024, the share price of Inox Wind Limited opened at ₹249.00, touching the day’s high at ₹253.10, as of 11:17 AM on the NSE.

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