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Last Updated : Oct 16, 2019 09:55 AM IST | Source: Moneycontrol.com

Inox Wind rises 6% on wind power project sale to Adani Green

As part of this deal, Inox Wind will also provide long term operations and maintenance services.

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Shares of Inox Wind rose more than 6 percent intraday on October 16 after the company signed an additional deal with Adani Green Energy.

The company in its press release said it has closed a deal for sale of a 50 MW wind power project at Dayapar, Kutch in the state of Gujarat in which Adani will be the strategic investor.

This project is part of the capacity won under SECI bids for wind power projects connected on the central grid.

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These 2 MW Wind Turbines have one of the highest swept areas that make it ideally suited to maximize returns in low wind areas.

This Kutch site would become one of the largest wind farms in India, post-execution of capacities won in different rounds of SECI & state auctions, it added.

The company has already commissioned 166 MW of wind projects for Adani and this new deal has been signed by Adani reposing their confidence in Inox Wind.

As part of this deal, Inox Wind will also provide long term operations and maintenance services.

At 0940 hrs, Inox Wind was quoting at Rs 33.25, up Rs 1.60, or 5.06 percent on the BSE.

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First Published on Oct 16, 2019 09:55 am
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