Inox Wind shares climb 5% as firm's 3 MW turbine gets RLMM listing. Here is what it means

Shares of Inox Wind Ltd climbed 5 per cent in Monday's trade after the wind energy solutions provider said its 3 MW turbine has been enlisted in the Revised List of Models and Manufacturers (RLMM) by MNRE, adding that the company has received huge interest for the WTGs from customers across PSUs, IPPs and C&I, with orders of over 550 MW already in hand and several more under active discussions. "This listing marks an important milestone signalling that the 3 MW wind turbine is now commercially available," Inox Wind said.

Following the development, the stock climbed 5.14 per cent to Rs 493.30 on BSE. Inox Wind shares are down 6.84 per cent in January but are up 404 per cent in the last one year.

Inox Wind said its WTG would be available in multiple hub height variants, including 100 m, 120 m, and 140 m. The turbine offers one of the lowest levelized costs of energy on a per unit basis given its compact design, resulting in lower costs of production, transport & logistics as well as installation, thereby giving the company a sustainable edge in the Indian market, it said.

"With multiple orders aggregating > 550 MW already in hand for the 3 MW WTGs, and with RLMM in place, there will be a major ramp up in the manufacturing and supplies of the turbines to meet the high demand," it said.

CEO Kailash Tarachandani said the RLMM listing of 3 MW WTGs is an important milestone for the company and it can now accelerate the commercial sales. He said the turbine would be a key growth driver for Inox Win going forward.

"The product has received huge interest from our customers across PSU, IPP & C&I segments and this listing will help us further accelerate our supplies and installation of the turbines," he said.

Inox Wind, he said, being among few end-to-end wind solutions providers in the country and with comprehensive products and services offerings stands at a unique position to capitalise on the huge opportunity ahead.

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