Inox Wind signs 1,500 MW turbine supply pact with Inox Clean Energy
Inox Wind Limited has signed a Memorandum of Understanding (MoU) with Inox Clean Energy for the supply of 1,500 MW of wind turbines for renewable energy projects across India.
The agreement covers Inox Wind’s 3.3 MW and 4X MW series turbines and will support projects being developed by Inox Clean Energy, the renewable independent power producer (IPP) and solar manufacturing platform of the INOXGFL Group.
According to the company, the agreement is part of the group’s “One Integrated” renewable energy strategy, which seeks to integrate manufacturing, engineering, procurement and construction (EPC), power generation, and operation and maintenance (O&M) services within a single platform.
Order book expands
Following the signing of the MoU, Inox Wind said its order book has increased to approximately 4.5 GW from 3.1 GW.
The company stated that the expanded order book provides multi-year revenue visibility and supports its position in the domestic wind energy market.
Inox Clean growth plans
Inox Clean Energy said it has built an operational renewable energy portfolio of around 3.5 GW within two years of commencing operations.
The company plans to add more than 3 GW of renewable energy capacity annually and is targeting an operational portfolio of 14 GW by FY29.
According to the company, wind energy is expected to account for 20-30% of annual capacity additions. Based on the planned expansion, this could translate into recurring turbine orders for Inox Wind over the coming years.
Manufacturing and renewable energy targets
Inox Wind said it has an annual manufacturing capacity of approximately 2.5 GW across five manufacturing facilities and provides services across the wind energy value chain, including EPC and O&M.
Inox Clean Energy operates through its renewable IPP platform, Inox Neo, and solar manufacturing business, Inox Solar. The company is targeting 10 GW of installed renewable energy IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.
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