Inox Wind
Inox Wind bags 51 MW equipment supply order from Everrenew Energy
New Delhi/IBNS: Indian wind energy service provider Inox Wind Ltd has bagged a 51-megawatt (MW) equipment supply order from Chennai-based renewable energy company Everrenew, reports said.
According to reports, Noida-headquartered Inox Wind has received an order for its 3 MW class wind turbine generators (WTGs) and the project will be executed in Tamil Nadu.
Talking about the 51 MW equipment supply order from Everrenew for its 3 MW class WTGs, Inox Wind's CEO Kailash Tarachandani said, "We are pleased to receive a 51 MW order from Everrenew, an esteemed customer with whom we aim to build a mutually fruitful partnership going ahead."
"We are glad to witness the strong preference of our turbines and services by project developers and we continue to make our contribution as India surges ahead to achieve its renewable capacity targets," Tarachandani added.
Inox Wind will further provide post-commissioning multi-year operations and maintenance (O&M) services to Everrenew, as per reports.
Everrenew Energy's CEO R Venkatesh said that the company's collaboration with Inox Wind will help the renewable energy company address the growing power demands in a sustainable manner, deliver their project commitments, and boost the adoption of renewable energy in the Commerce and Industry (C&I) segment.
“Our collaboration with Inox Wind will help us deliver on our project commitments as we aim to drive the adoption of renewable energy in the C&I segment and assist companies in their energy transition journey over the coming years,” Venkatesh said.
After Inox Wind made the announcement, shares of the company were trading higher by 12 percent at Rs 233.93 on Tuesday (Aug 13), while the stock hit an intraday high of Rs 235.80.
Shares of Inox Wind, which stated that it has received an infusion of Rs 900 crore from its promoters resulting in it becoming a net cash company, have risen by nearly 74 percent since the beginning of 2024, while the stock has gained over 350 percent in 2023.
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