Inox Wind secures order of 200 MW wind project in Gujarat

Inox Wind has secured an order from NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Limited for setting up a 200 MW wind power project. The project will be established in Gujarat. The project will be completed on a turnkey basis at the Dayapar site in Gujarat’s Kutch district and is expected to be operational by January 2024.

Inox Wind will supply and install DF 113/92 – 2.0 MW capacity wind turbine generators with a rotor diameter of 113 metres and a hub height of 92 metres as part of the order. The common infrastructure facilities, such as the 220 kV pooling substation at Dayapar and extra high voltage transmission line has already been commissioned. This will help in enabling timely completion of the project. The company will also provide comprehensive operations and maintenance for the project as part of the order.

Inox Wind is a wind energy solutions provider and a fully integrated player in the wind energy market with three state-of-the-art manufacturing plants. The plants are located in Gujarat, Himachal Pradesh and Madhya Pradesh. The company’s manufacturing capacity stands at 1,600 MW per annum.

In June 2022, Inox Green Energy Services, an ancillary of Inox Wind listed fresh preliminary papers with the Securities and Exchange Board of India, regulator for securities and commodity markets. The move targets to raise Rs 7.4 billion by issuing an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP) filed by the company, the IPO involves fresh issuance of equity shares worth Rs 3.70 billion and an offer-for-sale of equity stocks summing up to Rs 3.7 billion by promoter Inox Wind. The company can also consider a pre-IPO placement option. If the pre-IPO placement is completed, then the fresh issue size will be decreased. Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes.

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