Inox Wind bags order of 150 MW from NTPC Renewable Energy Limited

Inox Wind, India's leading wind energy solutions provider, has bagged an order for a 150 MW wind power project from NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Limited, to be commissioned in the state of Gujarat. This amongst many more in the future will help NTPC achieve its target of having over 60 GW Renewable Energy capacity constituting nearly 50% of its overall power generation capacity by 2032. The Project will be executed on a turnkey basis at Dayapar site, Kutch District in the state of Gujarat and is scheduled to be commissioned by April 2023.

Commenting on the occasion Mr. Kailash Tarachandani, CEO of Inox Wind, said 'We are very excited to bag this prestigious project from NTPC. This being a repeat order from NTPC, Inox Wind had earlier executed a 50 MW turnkey wind project for NTPC in Gujarat a few years ago, speaks volumes about Inox Wind's credentials and capabilities. We look forward to being a long term and trusted supplier for NTPC and be partners in NTPC's vision of achieving its ambitious Renewable Energy target. This also happens to be the largest order awarded by a PSU in recent times.'

As part of the order, Inox Wind will supply and install DF 113/92 - 2.0 MW capacity Wind Turbine Generators with 113 meters rotor diameter and 92 meters hub height. The common infrastructure facilities such as the 220 KV Pooling Substation at Dayapar and Extra High Voltage Transmission line has already been commissioned and thus the Project will be executed on a plug and play basis with a shorter gestation period. Further, as part of the order, Inox Wind will provide comprehensive operation and maintenance (O & M) for the lifetime of the project. This will add to its multi gigawatt O & M fleet and help grow the overall profitability. 'With the current portfolio and this latest award the O&M business is looking very robust and all geared to embark on a strong growth trajectory' said Mr. Tarachandani.

India has announced a renewable energy target of 175 GW by 2022 and a target of 450 GW by 2030. Given multiple opportunities in the industry along with various government initiatives such as 'Atma Nirbhar Bharat Abhiyan' and the inauguration of the world's largest Hybrid Renewable Energy Park of 30GW at Khavda Village in the district of Kutch in Gujarat, Inox Wind is well positioned to thrive in the future and aims to play a pivotal role in achieving India's ambitious renewable energy target. Inox Wind provides integrated solutions for the entire wind power value chain. The Company which enjoys one of the largest order books in the industry has further strengthened its order book with this latest repeat order.

Shares of Inox Wind Limited was last trading in BSE at Rs. 133.65 as compared to the previous close of Rs. 131.00. The total number of shares traded during the day was 13908 in over 354 trades.

The stock hit an intraday high of Rs. 134.65 and intraday low of 131.30. The net turnover during the day was Rs. 1857315.00.

Source : Equity Bulls

Keywords

InoxWindLimited INE066P01011 OrderWin NTPCRenewableEnergy WindPowerProject Gujarat