Inox Wind Ltd has signed a memorandum of understanding (MoU) to supply 1,500 MW of wind turbines to Inox Clean Energy, in a deal valued at around ₹8,000 crore, significantly boosting the company’s order pipeline and strengthening visibility for future growth.
The agreement will take Inox Wind’s order book from 3.1 GW to over 4.5 GW, providing multi-year execution visibility for one of India’s largest wind turbine manufacturers.
“The deal value is around ₹8,000 crore,” a senior company official said, requesting anonymity.
Under the MoU, Inox Wind will supply its advanced 3.3 MW and 4X MW wind turbines for renewable energy projects being developed by Inox Clean Energy across India.
The pact assumes significance as Inox Clean Energy, the renewable independent power producer (IPP) and solar manufacturing arm of the INOXGFL Group, accelerates capacity additions under the group’s recently launched ‘One Integrated’ renewable strategy, which combines manufacturing, EPC, IPP and operations and maintenance capabilities under a single platform.
Commenting on the development, Sanjeev Agarwal, CEO, Inox Wind Ltd, said the agreement would provide sustained order inflows for the company.
“We are delighted to have signed this MoU with Inox Clean for the supply of 1,500 MW of advanced wind turbines. 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,” Agarwal said.
The order comes as Inox Clean Energy rapidly scales its renewable energy portfolio. The company currently operates around 3.5 GW of renewable capacity and plans to add more than 3 GW annually going forward. It is targeting an operational renewable energy portfolio of 14 GW by FY29.
According to the company, around 20-30% of these annual additions are expected to come from wind projects, translating into recurring turbine demand and long-term order visibility for Inox Wind.
Bharat Saxena, CEO, Inox Clean Energy, said the arrangement would help accelerate project execution and improve operational efficiencies.
“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,” Saxena said.
“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,” he added.