Inox Wind project

Inox Wind Secures 550 MW Project as Shares Surge 400% in 12 Months!

The wind beneath Inox Wind’s wings has never been stronger! With shares skyrocketing by 400% in just 12 months, the wind energy giant has landed a major contract to execute 550 MW of wind capacity on a turnkey basis. What’s driving this explosive growth? Read on to discover how Inox Wind is reshaping India’s renewable energy landscape.

550 MW Wind Project: Inox Wind’s Big Win in Renewable Energy

Inox Wind Ltd., a leading provider of wind energy solutions in India, announced a significant milestone with the receipt of a Letter of Intent (LoI) from IGREL Renewables Ltd. (IGREL). The company has been awarded a contract to execute 550 MW of wind energy capacity on a turnkey basis, further solidifying its dominant position in the Indian renewable energy sector.

This project is not just another addition to Inox Wind’s portfolio but a strategic leap forward. It involves the supply, installation, and commissioning of Wind Turbine Generators (WTGs), along with multi-year comprehensive operations and maintenance (O&M) services. The project, spread across multiple sites in the states of Gujarat, Rajasthan, and Madhya Pradesh, will be executed over the next 24 months.

A Growing Order Book: Now Over 3.5 GW of Capacity!

This new 550 MW order is in addition to a previous 200 MW order, pushing Inox Wind’s total order book to a staggering 3.5 GW. With such an impressive pipeline of projects, Inox Wind is well-positioned to achieve its ambitious goal of executing 2 GW annually by FY27. As Group CEO Kailash Tarachandani puts it, this is a pivotal moment for the company:

“This is yet another milestone for Inox Wind and puts our company on a firm footing to achieve our 2 GW annual execution vision by FY27. With strong sectoral tailwinds and a robust order book, we are primed to capitalize on the large opportunities in the renewable energy sector over the next decade.”

Why Inox Wind is Leading the Charge in India’s Wind Energy Sector

India’s renewable energy sector is growing at an unprecedented rate, and Inox Wind is one of the companies riding this wave of change. As the world shifts towards greener energy sources, wind energy has become a critical component of India’s strategy to meet its renewable energy targets. Inox Wind, with its advanced technology and comprehensive services, is at the forefront of this transformation.

With this latest win, Inox Wind is not only expanding its footprint but also signaling its intent to dominate the wind energy market. The company has already established itself as a key player with a diversified portfolio of wind energy solutions and a growing list of successful projects.

Financial Success: Inox Wind’s Spectacular Rally and Revenue Growth

The financial performance of Inox Wind mirrors its operational success. Shares of Inox Wind have seen a 400% rally over the last 12 months, with a significant 86% rise in 2024 alone. The stock continues to attract attention, especially with the company’s robust order book and optimistic future outlook.

For the April-June quarter, Inox Wind reported an 83% revenue growth year-on-year, with revenues reaching ₹638.8 crore. More importantly, the company posted a net profit of ₹48 crore, a dramatic turnaround from a net loss of ₹63.5 crore in the same period last year.

This financial growth, combined with the new 550 MW project, has cemented Inox Wind’s status as a leading force in India’s renewable energy sector.

Conclusion:

With a solid order book, strong financials, and an expanding market presence, Inox Wind is on the path to becoming a dominant player in the global wind energy industry. The company’s 550 MW wind capacity project is just the latest in a series of wins that reflect its commitment to harnessing the power of wind energy and driving India’s green energy revolution.

As the world continues its shift towards renewable energy, Inox Wind is positioned to lead the charge with its innovative solutions and growing portfolio of projects. Investors and stakeholders alike will be watching closely as the company embarks on its next phase of growth.

FAQs:

1.What is the latest project Inox Wind has secured?

A. Inox Wind has secured a 550 MW wind project from IGREL Renewables Ltd. on a turnkey basis.

2.What does Inox Wind’s 550 MW project involve?

A. The project involves supplying, installing, and commissioning wind turbine generators, as well as providing multi-year O&M services.

3.Where will the project be executed?

A. The project will be executed across multiple sites in Gujarat, Rajasthan, and Madhya Pradesh over the next 24 months.

4.How much has Inox Wind’s stock risen in the last 12 months?

A. Inox Wind’s shares have surged by 400% over the last 12 months, with an 86% rise in 2024 alone.

5.What is the current order book size for Inox Wind?

A. Inox Wind’s order book has now surpassed 3.5 GW with the addition of the 550 MW project.

6.How does this project align with Inox Wind’s future goals?

A. This project strengthens Inox Wind’s goal of achieving 2 GW annual execution by FY27.

7.What was Inox Wind’s financial performance in the April-June quarter?

A. Inox Wind reported an 83% revenue growth year-on-year and posted a net profit of ₹48 crore for the quarter.

8.Why is Inox Wind’s role crucial in India’s renewable energy sector?

A. Inox Wind is a key player in driving India’s shift towards renewable energy with its wind energy solutions and large project pipeline.

9.What is the significance of Inox Wind’s 550 MW project?

A. The 550 MW project marks a major milestone for the company and highlights its leadership in the wind energy market.

10.What is Inox Wind’s future outlook?

A. Inox Wind is positioned for sustained growth with a strong order book, financial turnaround, and increasing demand for wind energy solutions.

Inox Wind project

Nazara Technologies Approves ₹900 Crore Preferential Issue and Stake in Absolute Sports