Inox Wind gains on bagging 200 MW power project from NTPC Renewable

Inox Wind rose 1.02% to 99.30 after the company said that it has bagged an order for a 200 MW wind power project from NTPC Renewable Energy, a wholly owned subsidiary of NTPC Limited, to be commissioned in the state of Gujarat.

This amongst many more in the future will help NTPC achieve its target of having over 60 GW renewable energy capacity constituting nearly 50% of its overall power generation capacity by 2032.

The project will be executed on a turnkey basis at Dayapar site, Kutch District in the state of Gujarat and is scheduled to be commissioned by January 2024.

Kailash Tarachandani, CEO of Inox Wind, said: We are excited to bag this prestigious 200 MW project from NTPC; the largest order awarded by a PSU in the recent past. This is the second project awarded by NTPC to INOX Wind in the recent past, post a 150 MW order received last year. This reflects their immense faith in our capabilities and credentials.

A few years ago, INOX Wind had also successfully executed a 50 MW turnkey wind project for NTPC in Gujarat. We hope to foster a long- term relationship with NTPC and become their trusted supplier and an enabler in achieving their ambitious renewable energy target.

As part of the order, Inox Wind will supply and install DF 113/92 - 2.0 MW capacity Wind Turbine Generators with 113 meters rotor diameter and 92 meters hub height. The common infrastructure facilities such as the 220 KV Pooling Substation at Dayapar and extra high voltage transmission line has already been commissioned and thus the Project will be executed on a plug and play basis with a shorter gestation period. Further, as part of the order, Inox Wind will provide comprehensive operation and maintenance (O&M) for the project.

Inox Wind is engaged in the business of manufacture and sale of wind turbine generators (WTG). It also provides erection, procurement & commissioning (EPC), operations & maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.

On consolidated basis, the company reported a net loss of Rs 255.64 crore as against a net loss of Rs 104.31 crore in Q4 FY22 over Q4 FY21. Net Sales fell 42.6% year on year to Rs 137.40 crore in the quarter ended 31 March 2022.

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