Page 2 - Wind Energy Sector

Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders

Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the 'Record Date', a company statement said. According to the statement, Inox Wind Ltd Board of Directors at its meeting held on April 25, 2024 has proposed the issuance of three bonus equity shares for every one existing equity share out of the accumulated reserves of the company. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind's shares, broadening participation of a wider set of investors, it stated. Over the course of financial year 2023-24, Inox Wind turned profitable in the September-December 2023 quarter on the back of a significant ramp up in business operations. Moreover, over the course of the pas

Inox Wind bonus issue plan: Board meet on April 25; stock zooms 9%

This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders of the company

Inox Wind bags repeat order for 210 MW project from Hero Future Energies

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

India added 21 GW solar modules, 3 GW cell manufacturing capacity in 2023

India installed 20.8 GW of solar modules and 3.2 GW of cell manufacturing capacity in 2023, according to Mercom Capital. The country's cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023, the US-based research firm said in its latest report, State of Solar PV Manufacturing. "About 60 per cent of the installed module manufacturing capacity was equipped to manufacture solar modules in M10 and G12 wafer sizes," the report said. Monocrystalline modules accounted for 67.5 per cent of the country's module production capacity, followed by polycrystalline, tunnel oxide passivated contact (TOPCon), and thin film modules, Mercom said. Module manufacturing capacity is projected to surpass 150 GW, and cell capacity is expected to reach over 75 GW by 2026, it said. "As Indian manufacturers continue to invest in expanding their solar panel production capacities, they need to carefully navigate through the complexities

Offshore wind's next big problem: Not enough ships, says report

As governments green their economies and utilities retire fossil-fuel power stations, wind installations are emerging as one of the most popular forms of alternative energy

Surviving airbenders are trying to get wind energy back to its past glory

Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes

After up to 595% rally in 1 year, wind energy stocks hit by policy overhang

Shares of companies involved in wind energy generation declined up to 5 per cent amid reports that the government may bring back reverse auctions in the wind energy sector

Juniper Green Energy, Envision tie up to develop 300-MW wind project in Guj

Juniper Green Energy and Envision Energy have collaborated for the development of a 300-MW wind energy project in Gujarat. As per the partnership, Envision will supply 91 units of EN 156-3.3 MW WTGs (wind turbine generators) and oversee the installation, commissioning and maintenance of all WTGs. The project is expected to be commissioned in a phased manner by the end of 2025 and will produce 1,000 GWh units of clean energy annually, according to a statement. Naresh Mansukhani, CEO, Juniper Green Energy, said in the statement, "We are happy to collaborate with Envision Energy for the development of this wind project." RPV Prasad, CEO, Envision Wind Power Technologies India, said, "As part of our commitment to the Atmanirbhar Bharat vision, we would be assembling the nacelle and hubs for the wind turbines at our Pune factory, while towers and blades will be sourced locally." Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said, "Together wit

Inox Wind eyes profit in coming quarters amid market upswing: INOXGFL

Wind energy solution provider Inox Wind is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues, a top official has said. Its parent INOXGFL Group's Executive Director Devansh Jain said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. Inox Wind Limited (IWL) is a group company of USD 8 billion INOXGFL Group, engaged in the chemicals and renewables space. On Friday, Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October-December 2023 period after reporting a back-to-back loss for the last five years. In a telephonic interaction, the executive director attributed "robust order book and revenue growth of over 100 per cent to Rs 506.88 crore, aided by advantageous market conditions" as the key factors leading to the turnaround

Inox Wind Q3 results: Profit rises to Rs 1.81 cr on back of higher revenues

Inox Wind on Friday posted a consolidated net profit of Rs 1.81 crore in the December 2023 quarter on the back of higher revenues. It had suffered a loss of Rs 287.86 crore in the October-December quarter a year ago, Inox Wind said in an exchange filing. The company's total income rose to Rs 506.88 crore in the reporting quarter from Rs 237.68 crore in the year-ago period. In a separate statement, the company said its EBIDTA was at Rs 99.5 crore in the quarter against an EBITDA loss of Rs 172.5 crore in the same quarter of 2022-23. The company's orderbook stood at 2.6 GW, the statement said. Devansh Jain, Executive Director, INOXGFL Group said efforts put in over the last few quarters have yielded a remarkable turnaround for Inox Wind in the third quarter, which is reflected in the current order book and the reported numbers. "I firmly believe that we have just embarked on a massive growth journey. With all the levers aligned, which includes the strong promoter backing of the com

Inox Wind ties up with German firm for new series of turbine generators

Homegrown Inox Wind on Tuesday said it has partnered with Germany-based Wind to Energy to introduce a new series of wind turbine generators in the domestic market. Under the agreement, Wind to Energy (W2E) will share its technology and design for the 4.X MW series wind turbine generators (WTG), Inox Wind Ltd (IWL) said in a statement. The new series of wind turbine generators has been designed for low wind regimes in India, the company said. Wind to Energy (W2E) is a global provider of technology and design for wind turbines. Inox Wind currently manufactures 2 MW and 3 MW turbines with multiple blades on existing licences with AMSC. The company will target installations of its 4.X MW series WTGs across various sites in the country. A 4.X MW series WTG can be upgraded with the use of boosters and Inox Wind will offer it in multiple blade and tower variants, it said. "The launch of 4.X MW wind turbines marks an important milestone for Inox Wind, as we continue on our exciting growt

A 5,800% renewables stock surge has some Indian investors worried

The biggest stock winners in India's renewable sector are now all facing the challenge from minuscule earnings, which has sent valuations through the roof

Suzlon bags 642 MW project from ACPL to set wind turbines in Andhra

Renewables solutions provider Suzlon Group on Tuesday said it has bagged a 642-MW wind power project from an Evren company, ABC Cleantech Private Limited (ACPL). Evren is a joint venture in India between Brookfield and Axis Energy. As part of the order, Suzlon will install 214 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each in Andhra Pradesh, a company statement said. "Suzlon is committed to partnering with Evren to enhance their green energy portfolios while helping advance India's renewable energy goals," Girish Tanti, Vice Chairman, Suzlon Group said in the statement. Evren is the new development platform launched by Brookfield in India as a joint venture with Axis Energy. Evren has an initial target to build over 6 GW of renewable energy assets in the next 2-3 years in the most resource-rich states in India. JP Chalasani, Chief Executive Officer, Suzlon Group, said in the statement, We are happy to announce our first o

Inox Wind 3 MW WTGs make entry in MNRE's list of approved turbines

The government has included 3 megawatt (MW) wind turbine generators of wind energy solutions provider Inox Wind in its revised list of models and manufacturers, the company said in a statement. The Revised List of Models & Manufacturers (RLMM) of the Ministry of New and Renewable Energy (MNRE) includes quality-certified wind turbine models eligible for installation in the country to facilitate investors, lenders and developers. "The wind turbine generators (WTGs) will be available in multiple hub height variants, including 100m, 120m, and 140m. This turbine offers one of the lowest levelized costs of energy on a per unit basis given its compact design, resulting in lower costs of production, transport & logistics as well as installation, thereby giving the company a sustainable edge in the Indian market," Inox Wind said. With multiple orders in hand for the 3 MW WTGs, there will be a major ramp-up in the manufacturing and supplies of the turbines to meet the high demand. Inox .

Envision Energy to supply 100 turbines for 300 MW wind project in Karnataka

Envision Energy on Monday said it will supply around 100 turbines of 3.3 MW for a 300-MW offshore wind project coming up in Karnataka. The project will be set up by investment fund Copenhagen Infrastructure Partners (CIP) for Viviid Renewables (Viviid) in the southern state under a partnership, Envision Energy said. "CIP has signed a turbine supply agreement for the EN 156 3.3 MW turbines with Envision Wind Power Technologies India. Viviid will provide balance-of-plant works and services and hold minority ownership in the project," it said. In the statement, Envision Energy did not disclose any financial information with respect to the project. Envision will supply turbines in the range of 95-100 for the project expected to be completed by end of 2025. "We look forward to continuing the successful collaboration and realizing these projects which contribute to local growth and job creation while delivering attractive returns for our fund investors," Peter Sjntoft, Associate Partner

Suzlon Group secures 225 MW wind energy project from Everrenew Energy

Renewable energy solutions provider Suzlon Group has secured a new 225 MW wind energy order from Everrenew Energy. Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at Everrenew Energy's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu, a company statement said. This order is for the company's larger rated 3 MW, S144-140m turbines from the 33.15 MW product series, it added. "This project with Everrenew Energy serves the promising commercial and industrial (C&I) segment of the Indian market, which will be important in driving our national targets over time," Girish Tanti, Vice Chairman, Suzlon Group said in the statement. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning. "The Power .

Suzlon bags two wind energy orders from Mahindra Susten, nordic energy firm

Renewables solutions provider Suzlon has bagged two separate wind energy orders of 100.8 MW each from Mahindra Susten and an Indian arm of a leading nordic energy company. Suzlon will install 48 units of their S120 140m wind turbine generators (WTGs) with a Hybrid Lattice tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra for Mahindra Susten Pvt Ltd, the clean-teach arm of the Mahindra Group, a company statement said. "We are delighted to partner with Mahindra Susten, for their first wind energy project. Indian conglomerates like the Mahindra Group are setting examples for corporate India towards embracing renewable energy and meeting India's national sustainability goals," said Girish Tanti, Vice Chairman, Suzlon Group said. According to a statement, Suzlon will execute the project with a full scope of supply, installation, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services. Electricity generated f

Sembcorp Industries to acquire 428 MW wind assets in India, China

Sembcorp Industries on Monday announced that it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about Rs 1,247 crore). The Singaporean energy company, backed by state-owned investor Temasek Holdings Pte, will acquire 228 MW of operational wind power assets of Leap Green Energy Pvt Ltd for 70 million Singaporean dollar and 200 MW of Qinzhou Yuanneng for 130 million Singaporean dollar, the firm said in a statement. Sembcorp has been operating in India for more than 12 years, with a presence across 18 states. With this acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets, comprising 2.25 GW of wind and 1.45 GW of solar assets. Last year, it announced the acquisition of Vector Green to add 583 MW of renewable assets in India. "Sembcorp's wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co Ltd has signed an agreement with Envision Energy Co Ltd to acquire 100 per cen

Suzlon's S1443 MW series of wind turbines get RLMM listing by MNRE

Renewable energy solution provider Suzlon Group on Wednesday announced the listing of its S144 3 MW series of wind turbines in the Ministry of New & Renewable Energy's 'Revised List of Models & Manufacturers' (RLMM). "This is an important milestone required for successful commercialisation of the product," the company said in a statement. The company announced the RLMM listing of its S144 3 MW series of wind turbines, which are extendable to 3.15 MW, it added. Suzlon has already installed the first prototype of this series at a hub height of 160m with a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat. Currently, the product is in the process of serial manufacturing and commercialisation, it added. Suzlon Group Chief Executive Officer JP Chalasani said, "This listing comes at the right time after our S144 product received an enthusiastic response from the market, evident from the strong order inflow". Considering India's varied wind regimes and terrains, the .

K P Energy bags order from Aditya Birla Renewables to set up wind project

K P Energy has bagged an order for setting up Balance of Plant of 23.1 MW wind energy project from Aditya Birla Renewables. However, the company did not disclose the value of the order. Balance of Plant refers to various supporting and auxiliary components in a power project. "K P Energy has received a new order from Aditya Birla Renewables for development of Balance of Plant of 23.1MW wind capacity forming part of the wind-solar hybrid power project (comprising 23.1MW wind and 11MW solar) to be connected to existing 140MW power evacuation facility at Fulsar PSS," a BSE filing stated. The project includes installation of 11 Suzlon-made wind mills. K P Energy will be responsible for providing a range of services, including Engineering, Procurement, Construction, and Commissioning (EPCC) for the project. This entails tasks such as land acquisition, design, manufacturing, supply, construction, erection, testing, and commissioning for the Balance of Plant and securing necessary appro