Inox Wind signs binding framework agreement for India's single largest wind order for 1,500 MW from CESC Ltd

Inox Wind Limited (IWL), India's leading wind energy solutions provider, announced today that it has entered into a binding framework agreement with CESC Limited, one of the largest power utilities in India, for the installation / supplies of 1,500 MW of wind capacity over the next 3-4 years. The deal is for IWL's latest DF/3000/145 Wind Turbine Generators (WTGs), each having a minimum capacity of 3.3 MW. The scope of the agreement comprises of a mix of end-toend turnkey execution for 1,000 MW and equipment supply with limited scope EPC for 500 MW. Additionally, IWL's subsidiary, Inox Green Energy Services Limited (IGESL) will provide post commissioning multi-year operations & maintenance (O&M) services. This is by far the single largest order signed for a wind project in India by any Wind OEM.

On this landmark occasion, Mr. Kailash Tarachandani, CEO of Inox Wind, said, "This is a pivotal moment in Inox Wind's history as we announce today the signing of India's largest wind project deal for 1,500 MW with CESC. Through this project, Inox Wind aims to provide its wind energy solutions expertise partnering with CESC as it moves ahead to achieve its green ambitions. This agreement is a testament of Inox Wind's strengths and project delivery capabilities and has been signed at an opportune time as the company strategizes towards delivering gigawatt-plus scale annual execution over the next few years."

Mr. Sandeep Kashyap, CEO - Renewable Business at RPSG Group, said "CESC's green ambitions include substantial investments in Renewable Energy and we are delighted to partner with Inox Wind for this ambitious project. CESC along with its subsidiaries is making a huge effort to reduce its carbon footprints and this is a significant stride towards our larger green ambitions, and we aim to utilise the expertise of Inox Wind to achieve our targets."

Shares of Inox Wind Limited was last trading in BSE at Rs. 527.20 as compared to the previous close of Rs. 534.95. The total number of shares traded during the day was 140346 in over 5098 trades.

The stock hit an intraday high of Rs. 547.05 and intraday low of 518.00. The net turnover during the day was Rs. 74118048.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 CESC FrameworkAgreement WindPowerProject WTGs OrderWin