Inox Wind up on commissioning project in Gujarat

Inox Wind rose 1% to 140.69 Rs after the company said it has commissioned 3.3 megawatt wind turbine in Ranparda village, Jasdon taluka, Rajkot, Gujarat.

The 3.3 megawatt wind turbine, developed with AMSC as technology partner, has a 100 meter tubular tower and 146 meter rotor blades.

The company said that this wind turbine offers one of the lowest possible cost of energy thereby providing a sustainable edge in the Indian Market. The new wind turbine is dedicated towards achieving the Honourable Prime Minister of India's vision of 50% electric power from non-fossil fuel-based energy resources by 2030, it added.

Devansh Jain, executive director of InoxGFL Group said, This turbine is not only a step towards achieving our Honorable Prime Ministers Vision of Aatma Nirbhar Bharat but also achieving the renewable energy goals. We believe this is the start of a new journey at InoxGFL Group and we would continue to align our efforts towards achieving the honorable Prime Minister's vision and be a part of this momentous growth journey of India.

Kailash Tarachandani, CEO of Inox Wind said, The revolutionary 3.3 megawatt turbine has been specifically designed for the Indian low wind regions. Due to its size, capacity and competitiveness, this state of the art WTG will be a game changer in the Indian market. This new product will substantially contribute towards lowering the cost of energy and given its compact design shall lead to cost savings in production, transport & logistics as well as installation. This product will be commercially available in India from January 2023.

Inox Wind is a wind energy solutions provider servicing IPPs, utilities, PSUs & corporate investors. The company is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Its manufacturing capacity stands at 1,600 MW per annum.

The company reported a consolidated net loss of Rs 129.27 crore in the quarter ended June 2022 as against net loss of Rs 52.32 crore during the previous quarter ended June 2021. Sales rose 24.36% to Rs 210.62 crore in Q1 FY23 over Q1 FY22.

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