Inox Wind sizzles after order win

Inox Wind added 3.32% to Rs 71.55 after the company signed a binding agreement for 92 megawatts with Integrum Energy Infrastructure.

Inox Wind has signed a binding agreement with Integrum Energy Infrastructure to supply, erect and commission 92 MW of wind power projects comprising of 2 MW (113 metre rotor diameter turbine combined with 92 metre hub height) turbines with a combination of total turnkey and limited scope supply.

Inox Wind shall supply, erect and commission the turbines at various locations in the states of Gujarat, Karnataka, Maharashtra & Tamil Nadu by Q3 of FY 22 for captive customers. The agreement includes a turnkey order of 26 MW for which Inox Wind will provide Integrum Energy with end-to-end solutions from development and construction to commissioning and providing long term operations and maintenance services.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Inox Wind's manufacturing capacity stands at 1,600 mega-watt (MW) per annum.

On a consolidated basis, Inox Wind reported net loss of Rs 51.97 crore in Q3 FY21 compared with net loss of Rs 27.47 crore in Q3 FY20. Net sales rose 18% to Rs 203.80 crore in Q3 FY21 over Q3 FY20.

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