Inox Wind Ltd on Friday, March 7, said it has secured a 153 MW order from a leading renewable energy developer.
The project, set to be developed in Tamil Nadu, will see the deployment of IWL’s advanced 3 MW class turbines, Inox Wind said in a stock exchange filing.
This developer is a part of a prominent global clean energy company, marking Inox Wind’s first-ever order of such magnitude, the company added.
As part of the agreement, Inox Wind will also provide limited scope engineering, procurement, and construction (EPC) services, alongside offering multi-year operations & maintenance (O&M) services once the turbines are commissioned.
“As India’s burgeoning commercial and industrial (C&I) market continues to grow at a rapid pace, Inox Wind’s expertise in wind project execution, backed by robust product and service excellence, continues to place it as a partner of choice for large renewable project developers,” Inox Wind’s CEO Kailash Tarachandani, said.
Inox Wind shares gained over 6% to touch an intraday high of ₹162.49 apiece on Friday.
In December, Inox Wind bagged a 60 MW order from Serentica Renewables to supply 3 MW class wind turbines. This order, set to be delivered within the first six months of 2025, will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka.
Shares of Inox Wind were trading 5.87% higher at ₹162.18 apiece at 10.10 am on Friday, March 7. The stock has gained nearly 24% in the past year.
Content retrieved from: https://www.cnbctv18.com/market/inox-wind-share-price-gains-153-mw-order-from-leading-renewable-energy-developer-19570002.htm.
