Inox Wind, a prominent provider of wind energy solutions, has bagged an order for a 150 MW wind power project from NTPC Renewable Energy. NTPC Renewable Energy is a subsidiary of NTPC Green Energy, the renewable energy division of NTPC. The project shall be executed in the state of Gujarat.
According to a statement shared with stock exchanges on Tuesday, Inox Wind has received a total of 550 MW in orders from NTPC to date.
Kailash Tarachandani, Chief Executive Officer of Inox Wind, expressed his gratitude towards NTPC REL for awarding this 150 MW project to Inox Wind. He also expressed the company's aspiration to cultivate a long-term partnership with NTPC, serving as their trusted supplier and contributing towards realization of their ambitious renewable energy goals.
India has set ambitious targets for renewable energy, aiming to reach 175 GW by 2022 and 450 GW by 2030. To support these objectives, the government has launched initiatives like Atma Nirbhar Bharat Abhiyan. In this favourable environment, Inox Wind expressed its strategic position to prosper and make a substantial contribution towards India's renewable energy objectives.
"As part of the order, Inox Wind will supply and install existing and new technology state-of-the-art wind turbine generators. Additionally, as part of the agreement, Inox Wind will be responsible for operation and maintenance (O and M) services for the project. This addition will contribute to the expansion of Inox Wind's O and M fleet, enhancing overall profitability," said Tarachandani.
As a provider of comprehensive solutions across the wind power value chain, Inox Wind has said it has a substantial order book. The company's latest order further strengthens its position and supports its commitment to India's renewable energy agenda, it added.
Inox Wind (IWL) is a prominent provider of wind energy solutions in India, catering to independent power producers (IPPs), utilities, public sector undertakings, and corporate investors.
Inox Wind shares
The shares of Inox wind limited on Tuesday at 11:17 am IST were at Rs 141.75, up by 5.63 per cent.
