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Inox Wind surged 5.38% to Rs 171.45 after the firm said that the execution of the 990 MW turnkey order, under the 1,500 MW framework agreements signed is in full swing across multiple locations in the states of Gujarat, Rajasthan and Madhya Pradesh.
The company said that it has received all the advances related to these projects, and commissioning is expected in phases from FY26 onwards. This order from Purvah Green, a subsidiary of CESC, is the single largest wind order awarded by an IPP in India to any wind OEM, it added.
Kailash Tarachandani, Group CEO, Inox Wind, said, "We are pleased to announce that we are now executing the entire 990 MW turnkey project for Purvah across multiple locations. We will commence the commissioning of the project in a phased manner starting in FY26. This is a milestone order for Inox Wind from an esteemed customer, and we are confident of deepening our relationship further.
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Sandeep Kashyap, CEO of Renewables Business at RPSG Group, said, We are pleased with the progress that we have achieved on this project. Our partnership with Inox Wind will be a strong catalyst in our quest to achieve multi-fold growth in our renewable portfolio over the next few years. This is an important project for us, which will significantly contribute to achieving our green ambitions.
Inox Wind is a wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. It is part of the INOXGFL Group, with a focus on chemicals and renewable energy. IWL is fully integrated in the wind energy market, with four manufacturing plants and a capacity of over 2 GW per annum.
The companys consolidated net profit soared to Rs 125.12 crore in Q3 FY25 as against Rs 3.18 crore posted in Q3 FY24. Revenue from operations surged 81% to Rs 911.27 crore in the quarter ended 31 December 2024.
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