Suzlon Competitor Signs 1,500 MW Wind Turbine Supply Pact; Order Book Crosses 4.5 GW, Check Details

Indian equity benchmarks traded higher on Tuesday, with the benchmark Nifty 50 index rising 77.10 points, or 0.32 per cent, to 23,931.00. Amid the positive market sentiment, Inox Wind share price were trading at Rs 91.13, up 1.40 per cent, after the company announced a major wind turbine supply agreement with Inox Clean Energy.

Inox Wind Signs 1,500 MW Supply Agreement

Inox Wind Limited (IWL) has signed a memorandum of understanding (MoU) with Inox Clean Energy for the supply of 1,500 MW of wind turbines across renewable energy projects being developed by Inox Clean in India.

Under the agreement, Inox Wind will supply its advanced 3.3 MW and 4X MW wind turbine generators, supporting the renewable energy expansion plans of Inox Clean Energy. Following the signing of the MoU, Inox Wind's order book has increased from 3.1 GW to over 4.5 GW, providing significant multi-year execution visibility.

Part Of INOXGFL Group's 'One Integrated' Strategy

The agreement aligns with the INOXGFL Group's 'One Integrated' renewable energy strategy, which aims to build a fully integrated clean energy platform covering manufacturing, engineering, procurement and construction (EPC), independent power production (IPP), and operations and maintenance (O&M).

The integrated ecosystem brings together Inox Clean Energy, Inox Renewable Solutions, Inox Green Energy Services and Inox Wind, enabling coordinated project execution and supply chain efficiencies across the renewable energy value chain. According to the company, orders from group entities are expected to reduce exposure to market cycles while ensuring a steady flow of business over the coming years.

Inox Clean Targets 14 GW Renewable Portfolio

Inox Clean Energy has emerged as one of the fastest-growing renewable energy platforms within the group. The company has already built an operational portfolio of approximately 3.5 GW within two years and plans to add more than 3 GW of renewable capacity annually.

Management has outlined a target of achieving an operational renewable energy portfolio of 14 GW by FY29. Around 20–30 per cent of these annual additions are expected to come from wind energy projects, creating recurring demand for Inox Wind's turbines and services.
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Management Commentary

Commenting on the development, Mr. Sanjeev Agarwal, CEO, Inox Wind Ltd., said: "We are delighted to have signed this MoU with Inox Clean for the supply of 1,500 MW of advanced wind turbines. Inox Clean has ambitious plans to develop and deliver long-term clean energy solutions to its customers, and we are pleased to be a key partner in the Group’s mission to accelerate India’s energy transition, while also benefiting from a steady multi-year order inflow. We have a robust order book of 3.1 GW and, with this new MoU, our order book crosses 4.5 GW, which covers us for the next few years."

Speaking on the occasion, Mr. Bharat Saxena, CEO, Inox Clean Energy, said: "This MoU represents a significant milestone in the execution of the INOXGFL Group’s ‘One Integrated’ renewable strategy. As Inox Clean accelerates towards its target of building a 14 GW renewable energy portfolio by FY29, having access to world-class wind manufacturing, execution and O&M capabilities within the Group provides us with a distinct competitive advantage. The partnership with Inox Wind will enable faster project execution, greater supply chain certainty and improved capital efficiency as we continue to scale one of India’s fastest-growing renewable energy platforms."

About Inox Wind

Inox Wind Limited is a fully integrated wind energy solutions provider and a part of the INOXGFL Group. Incorporated in 2009, the company manufactures wind turbine generators and offers end-to-end services including project development, EPC execution and long-term operations and maintenance.

The company operates four manufacturing facilities and six offices across India and managed an O&M portfolio of approximately 5.1 GW as of FY25, making it one of India's leading wind energy players.

What are your views on Inox Wind's expanding order book and the group's ambitious renewable energy growth plans? Share your thoughts in the comments below.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.