Inox Wind, Inox Green Energy, CESC shares in focus today. Here's why

Shares of Inox Wind Ltd, Inox Green Energy Ltd and CESC Ltd will be in focus on Thursday morning after the companies signed an agreement for supply of 1,500 MW of wind capacity over the next 3-4 years.

Wind energy solutions Inox Wind entered into a binding framework agreement with power utility CESC Limited for the installation and supply of 1,500 MW of wind capacity over the next 3-4 years. The deal is for Inox Wind's latest DF/3000/145 Wind Turbine Generators (WTGs), each having a minimum capacity of 3.3 MW.

"The scope of the agreement comprises of a mix of end-to-end turnkey execution for 1,000 MW and equipment supply with limited scope EPC for 500 MW. Additionally, IWL’s subsidiary, Inox Green Energy Services Ltd will provide post commissioning multi-year operations & maintenance (O&M) services. This is by far the single largest order signed for a wind project in India by any Wind OEM," Inox Wind said.

CESC in a separate release said the binding framework agreement with Inox Wind is for a combination of turnkey solution and supply with scope of limited EPC and operations and Maintenance services for a capacity, aggregating to 1500 MW of wind turbines to be commissioned over next 3-4 years.

CEO of Inox Wind Kailash Tarachandani said, “This is a pivotal moment in Inox Wind’s history as we announce today the signing of India’s largest wind project deal for 1,500 MW with CESC. Through this project, Inox Wind aims to provide its wind energy solutions expertise partnering with CESC as it moves ahead to achieve its green ambitions. This agreement is a testament of Inox Wind’s strengths and project delivery capabilities and has been signed at an opportune time as the company strategizes towards delivering gigawatt-plus scale annual execution over the next few years.”

CEO for Renewable Business at RPSG Group, Sandeep Kashyap, said “CESC’s green ambitions include substantial investments in Renewable Energy and we are delighted to partner with Inox Wind for this ambitious project. CESC along with its subsidiaries is making a huge effort to reduce its carbon footprints and this is a significant stride towards our larger green ambitions, and we aim to utilise the expertise of Inox Wind to achieve our targets.”

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