Inox Wind Ltd., the wind energy solutions provider has won a repeat order for 279 MW for its 3 MW Wind Turbine Generators from a large Commercial & Industrial (C&I) player, the company said in an exchange filing.
The order includes equipment supplies for its latest 3 MW Wind Turbine Generators (WTGs) along with a limited scope for 180 MW on an EPC basis, while the remaining 99 MW will be executed on a turnkey basis.
Post-commissioning multi-year Operations & Maintenance services will also be part of the contract, the company said.
The project will be executed by June 2025, with the WTGs being installed across Gujarat and Rajasthan.
For the said customer, Inox Wind has already executed orders worth nearly 325 MW till date.
Devansh Jain of InoxGFL Group, in an interaction with CNBC-TV18 said that the order win value for the company is now in excess of ₹2,200 crore and that includes the Operations and Maintenance value.
With this order win, the current order book for Inox Wind exceeds 1,550 MW and has visibility for financial year 2025 as well as 2026, Jain said.
The new order is likely to see revenue recognition from the first quarter of financial year 2025 (April-June).
Jain also said that the company is in advanced discussions for several other order wins.
Out of Inox Wind's 1.3 GW total order book as of September 2023, Inox holds orders worth 500 MW from NTPC. Out of this 500 MW, it has won repeat orders worth 150 MW in the current financial year.
PSU orders currently stand at 39% of the total order book with the rest from private players.
Shares of Inox Wind had ended 1.2% lower on Friday and has gained 312% so far in 2023. This is the best calendar year performance for the company on record.
First Published: Dec 26, 2023 8:11 AM IST
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