Inox Wind arm divests stake in SPVs

Inox Wind, one of India's leading wind energy solutions provider, through its subsidiary arm, Inox Green Energy Services Limited (IGESL) has sold the entire equity shareholding held in Wind One Renergy Limited, Wind Three Renergy Limited and Wind Five Renergy Limited, special purpose vehicles (SPV) which commissioned 50 MW each, out of the total 250 MW which it had successfully won under the Tranche 1 of Solar Energy Corporation of India Limited's (SECI -1) bids for wind power projects at Dayapar, Gujarat connected on the central grid, to Adani Green Energy Limited, a part of the Adani Group. IGESL shall provide long term operations and maintenance services for these projects.

Inox Wind through its SPV had supplied, erected and commissioned 25 units of its advanced 2 MW Wind Turbine Generators (WTGs) of 92m Hub height & 113m Rotor diameter as part of 50 MW project each.

Source : Equity Bulls

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InoxWind InoxGreenEnergyServices StakeDivestment SPVs AdaniGreenEnergy