Inox Wind Limited (IWL), India’s leading provider of wind energy solutions, has further solidified its position in the renewable energy sector by securing a Letter of Intent (LoI) from IGREL Renewables Ltd. (IGREL). The LoI pertains to the execution of 550 MW wind capacity on a turnkey basis, to be implemented over the next 24 months. The project will span across multiple sites in Gujarat, Rajasthan, and Madhya Pradesh, all key states in India’s renewable energy expansion.

This agreement marks another milestone in Inox Wind’s journey, as it not only boosts their orderbook to over 3.5 GW but also reaffirms their capability to handle large-scale projects. As part of the turnkey contract, Inox Wind will supply, install, and commission Wind Turbine Generators (WTGs) at each site. Additionally, the company will provide multi-year comprehensive operations and maintenance (O&M) services to ensure long-term efficiency and reliability of the turbines post-commissioning.

The scope of this project adds to the company’s earlier 200 MW firm order, further expanding their footprint in the Indian wind energy market. Commenting on the project, Kailash Tarachandani, Group CEO of Inox Wind, stated, “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 orderbook.”

Inox Wind has strategically positioned itself to capitalize on the growing demand for renewable energy solutions in India, driven by robust sectoral tailwinds and supportive government policies. With a diverse orderbook and the ability to execute large-scale wind projects, the company is well-equipped to contribute significantly to India’s renewable energy goals.

About Inox Wind

Inox Wind Limited (IWL) is a leading player in India’s wind energy market, catering to Independent Power Producers (IPPs), Public Sector Undertakings (PSUs), utilities, and corporate investors. It is part of the InoxGFL Group, which has a rich legacy of over nine decades and operates in the chemicals and renewable energy sectors. The group has established itself as a major player in both verticals, with Inox Wind spearheading its renewable energy initiatives.

IWL operates four state-of-the-art manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh. These plants are responsible for producing wind turbine components, including blades, hubs, nacelles, and tubular towers, all manufactured in-house to ensure high quality, reliability, and cost competitiveness. With a production capacity of around 2.5 GW per annum, Inox Wind’s state-of-the-art 3 MW WTG series stands as one of the company’s flagship offerings.

Additionally, Inox Green Energy Services Ltd., a subsidiary of Inox Wind, is India's only listed wind O&M services company, with a strong portfolio of over 3.35 GW. Its services provide robust support to wind projects across the country. Another subsidiary, Resco Global Wind Services Pvt. Ltd., offers EPC services and develops common infrastructure, including power evacuation systems, for renewable energy projects.

Inox Wind’s comprehensive offerings include end-to-end wind energy solutions, covering everything from concept to commissioning to operations and maintenance. Its commitment to quality is reflected in its various certifications, including ISO 9001:2008, ISO 14001:2004, OHSAS 18001, and ISO 3834, which pertain to the manufacturing, installation, commissioning, and O&M of wind turbines.

The company’s financial health, strong promoter backing, and ambitious growth trajectory make it a key player in India’s burgeoning renewable energy sector. As the country aims to ramp up its green energy capacity, Inox Wind is well-positioned to play a pivotal role in achieving these goals.

For further updates on similar issues and investment opportunities, explore the Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and stay informed with the Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News- Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for stock market trading insights and the Finance Saathi Telegram Channel for regular updates on share markets and IPOs.

Start your stock market journey by opening a free demat account with Choice Broking FinX.