Inox Wind shares in focus wind energy solutions provider wins 50MW order from NLC India

Shares of Inox Wind Ltd, a wind energy solutions provider, will be in focus on Tuesday morning after the company said it received a letter of intent (LoI) for 50 MW turnkey wind power project from NLC India Ltd. The project, Inox Wind said, will be executed at the Dayapar site in Gujarat and connected to ISTS, the scope of which includes comprehensive operations & maintenance (O&M) services for over 10 years.

"Inox Wind Limited (IWL), India’s leading wind energy solutions provider, has received a Letter of Intent (LoI) for executing a 50 MW ISTS connected wind power project on a turnkey basis from NLC India Limited, a Navratna CPSU. As part of the project, Inox Wind will supply, install and commission its DF 113/92 - 2.0 MW capacity Wind Turbine Generators (WTGs), and provide comprehensive operations & maintenance (O&M) services for over 10 years post commissioning," Inox Wind said in a BSE filing.

inoxwind-share-price-364643">Inox Wind shares are up 25 per cent in the last one month and 150 per cent in the last six months. The multibagger stock is up 375 per cent in the last one month.

Inox Wind said the project will be executed at the mega Dayapar site in Kutch district of Gujarat.

CEO Kailash Tarachandani said: "This project from NLC India reinforces Inox Wind’s strong credentials as a comprehensive wind energy solutions provider in the Indian market. Our robust relationships across PSUs, IPPs, C&I and retail customers, as well as our varied product and service offerings with plug-and-play turnkey solutions, place us at a unique position to deliver value for our customers. As India moves towards achieving its renewable energy capacity targets, Inox Wind continues to play an important role, and stands at a formidable position to deliver significant growth and profitability going ahead."

Inox Wind Limited had last month bagged an order for 279 MW from a large C&I player. The order was for Inox WInd's latest 3 MW Wind Turbine Generators (WTGs), and its scope comprised of a mix of equipment supply with limited scope EPC for 180 MW and end-to-end turnkey execution for 99 MW.

Additionally, Inox Wind was to offer post commissioning multi-year operations & maintenance (O&M) services. That project would be executed by June 2025.

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