Inox Wind, an Indian wind energy service provider, announced that it had wonorders for the supply of wind turbine generators from retail customers in various industries. The projects will be executed on a turnkey basis across multiple locations in Gujarat and Karnataka. As per the contract, the company will have to provide 2 MW DFIG 113 rotor diameter wind turbine generators along with comprehensive maintenance for the equipment for the entire duration of the project. After the announcement, the share price of the company rose by 1.61 per cent after the company had reported a net loss of Rs 730 million in June 2020. The projects that Inox Wind will be supplying for are expected to be commissioned by March 2021.
Inox Wind has a strong presence in the Indian wind energy market with three manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh. Inox’s manufacturing capacity stands at 1,600 MW per annum. In May 2020, Inox wind signed definitive agreements with Continuum Power Trading (TN) to supply, erect and commission wind energy projects of 250 MW capacity in Gujarat. The company has already begun the first phase of the project of 126 MW which is to be commissioned by the third quarter of FY2021. In October 2019, it closed a deal for the sale of a 50 MW wind power project at Dayapar, Kutch, Gujarat. Adani Green Energy will be a strategic investor in the project, which is part of the capacity won under SECI bids for grid-connected wind power projects. Inox Wind plans to add a 3.3 MW turbine to its existing 2 MW platform. The manufacturer, which sources turbine technology from US-based AMSC, has stated that the new machine will have a 146 meter rotor diameter.