Inox Wind share price gains 5% on wind power project win

Inox Wind will be responsible for comprehensive multi-year operation and maintenance (O&M) services for the project being set up in Gujarat’s Dayapar

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Inox Wind gained 5 percent in the morning trade on June 8 after the company announced bagging an order for a 100-MW wind power project from ABEnergia Renewables Pvt Ltd (ABEnergia), an independent power producer.

As part of the order, Inox Wind will supply and install 3.3 MW wind turbine generators with 145 m rotor dia & 120 m hub height. The project will be executed on a turnkey basis at Dayapar in Gujarat’s Kutch district is scheduled to be commissioned by 2024.

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Infrastructure facilities, including the 220 KV pooling substation at Dayapar and an extra-high voltage transmission line, have already been commissioned, therefore, the project would be executed on a plug-and-play basis, the company said. As part of the agreement, Inox Wind will be responsible for multi-year operation and maintenance (O&M) services.

“This order re-emphasises not only the credentials of Inox Wind Limited as the leading wind energy solutions provider but also of the strong tailwinds that the sector is witnessing,” said Kailash Tarachandani, CEO of Inox Wind.  “I firmly believe that with the impetus in the sector and combined with our latest 3.3MW offering, IWL should grow manyfold from here on.”

At 9.24 am, Inox Wind was quoting at Rs 146.80, up Rs 3.85, or 2.69 percent on the BSE.

The share touched a 52-week high of Rs 160.40 on September 16, 2022 and a 52-week low of Rs 75.40 on July 1, 2022. It is trading 8.48 percent below its 52-week high and 94.69 percent above its 52-week low.

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