Inox Wind has bagged a repeat order of 200 MW on a turnkey basis from NLC India. The contract is valued at Rs 1,600 crore and will be executed within 24 months from the date of Letter of Award (LoA). Following the order win, Inox Wind’s share price rose over 3%.
Inox Wind-NLC India: Order details
Under the scope of the contract, Inox Wind will supply wind turbine generators, engineering, procurement & construction (EPC), and post-commissioning operations and maintenance services of the project.
The order is scheduled to be commissioned within 24 months from the Letter of Award, and Inox Wind will carry out end-to-end execution of NLC’s project. With the addition of this order, the company’s order book stands at 4.7 GW, comprising a mix of commercial & industrial (C&I) customers, public sector undertakings (PSUs), and independent power producers (IPPs).
“This balanced customer portfolio provides strong revenue visibility while underscoring Inox Wind’s leadership in serving the evolving requirements of India’s renewable energy sector,” the company said in its exchange filing.
Inox Wind-NLC India: Management commentary
Commenting on the same, Sanjeev Agarwal, CEO, Inox Wind., said, “This order is a strong validation of our integrated turnkey capabilities, execution expertise and technologically advanced product portfolio. Our strong and diversified order pipeline, provides us with significant growth visibility. We look forward to working closely with NLC India Limited and successfully delivering this project within the stipulated timeline.”
Agwaral further added, “As India continues to accelerate its renewable energy transition, customers are increasingly partnering with experienced and reliable wind OEMs capable of delivering projects seamlessly from concept to commissioning. We remain committed to supporting the country’s clean energy ambitions while creating long-term value for all our stakeholders through operational excellence and timely project execution.”
Inox Wind share price
The company’s share price was up 3% in Wednesday’s intraday session. Over the past one month it has fallen by more than 11%, while over the past six months it has declined 27%.