Noida, September 3: Shares of Inox Wind Limited (IWL) to remain in focus today after it won a repeat order worth ₹755 crore from the Indian Oil Corporation (IOCL) for a 100 MW wind power project. This contract includes supplying and installing 50 units of Inox Wind’s 2 MW wind turbine generators, while it will manage the entire scope of work, including supply of wind turbines, site development, construction and final commissioning of the wind farm. This order comes more than a month after it secured another follow-up order worth ₹200 crore from NLC India
The order strengthens Inox Wind’s diversified customer portfolio, spanning customers including independent power producers (IPPs), Public Sector Undertakings (PSUs) and Commercial and Industrial (C&I) customers.
“We are pleased to have secured this 100 MW turnkey order from Indian Oil Corporation Limited, a Maharatna company and India’s largest oil marketing company. This repeat order is a testament to the confidence that leading institutional customers place in our integrated capabilities and execution track record. With our ability to deliver comprehensive solutions across the wind project lifecycle, we remain well positioned to support customers in their transition towards cleaner sources of energy.” Mr. Kailash Tarachandani, Group CEO, Renewables business, INOXGFL Group, said in a press release.
“India’s renewable energy transition is creating significant opportunities for wind power, with large enterprises and public sector organisations increasingly looking for reliable partners who can deliver projects with efficiency and accountability. We are committed to leveraging our technology, manufacturing and execution capabilities to deliver high-quality projects while contributing meaningfully to India’s clean energy ambitions.” he further said.
Following the news, Inox Wind’s shares rose more than 0.50% in early morning trades on August 3, raising hopes for the stock that has fallen almost 50% in the last year.
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