Inox Wind share price was trading marginally lower in the opening trade despite the company received a Letter of Intent (LoI) from IGREL Renewables Ltd (IGREL) for execution of 550 MW wind capacity on turnkey basis.
At 09:26am, Inox Wind was quoting at Rs 242.65, down Rs 2.10, or 0.86 percent, on the BSE.
As part of the project, Inox Wind will supply, install and commission the Wind Turbine Generators (WTGs), and provide multi-year comprehensive operations & maintenance (O&M) services post commissioning.
The project will be executed over the next 24 months across multiple sites in the states of Gujarat, Rajasthan and Madhya Pradesh.
The 550 MW LoI is over and above the firm order of 200 MW received in the past, and takes IWL’s orderbook to > 3.5 GW.
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"This is yet another milestone for Inox Wind and puts our company on a firm footing to achieve our 2 GW annual execution vision, which we aim to accomplish in FY27 with our large orderbook. With robust sectoral tailwinds and IWL’s strong positioning having all the levers in place, we are primed to capitalize on the large opportunity in the sector over the next decade," said Kailash Tarachandani, Group CEO,Inox Wind.
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