Inox Wind Ltd. saw its stock jump over 6% in Monday’s trading session, climbing to ₹578.80 after the company announced it had bagged a record-breaking wind energy project from CESC Limited.
The deal, pegged as India’s single largest wind energy order, will see Inox Wind deliver a whopping 1,500 megawatts (MW) of wind power capacity. This is a major milestone not only for the company but for the Indian renewable energy sector as a whole.
What’s in the Deal?
According to the company, the massive project will be executed using Inox Wind’s latest generation DF/3000/145 wind turbine generators, each delivering at least 3.3 MW.
The project includes:
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1,000 MW of full turnkey execution (Inox Wind will handle everything from start to finish)
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500 MW of equipment supply along with limited engineering and construction support
Once operational, the turbines will be maintained by Inox Green Energy Services, a subsidiary of Inox Wind, through a long-term operations and maintenance contract.
Timeline and Scope
The entire 1,500 MW project is expected to be completed over the next 3 to 4 years, contributing significantly to India’s clean energy targets.
Market Reaction
Investors responded positively to the news. Inox Wind’s stock not only gained 6% on the day but has now delivered a stunning 281% return over the past year. Since the start of 2024, the stock has surged around 24%, outperforming many peers in the green energy space.
With this new order, Inox Wind’s market capitalization has crossed ₹21,000 crore, underscoring its growing dominance in the wind energy market.
CEO’s Take
Kailash Tarachandani, CEO of Inox Wind, called the deal a “pivotal moment” in the company’s journey.
“We are proud to announce the signing of India’s largest wind project deal with CESC. This reaffirms our capability to deliver large-scale renewable energy projects and our commitment to India’s green energy future,” he said.
The Bigger Picture
India is ramping up its push for renewable energy, and deals like this are key to meeting ambitious climate targets. For Inox Wind, this order not only boosts revenue potential but also strengthens its position as a leading player in India’s wind energy sector.
