Inox Wind shares hit their all-time high on Thursday, February 8, after the company said it has signed a binding framework agreement with power utility CESC Limited to install 1,500 MW wind capacity over the next three to four years.
This, it said was India's single largest wind order by any wind original equipment manufacturer (OEM). "The deal is for Inox Wind's latest DF/3000/145 wind turbine generators, each having a minimum capacity of 3.3 MW," the company said in a stock exchange filing.
The scope of work agreement includes end-to-end turnkey execution for 1,000 MW and equipment supply with limited scope EPC for 500 MW, it said, adding that its subsidiary Inox Green will provide post-commissioning multi-year operations and maintenance services.
Inox Wind CEO Kailash Tarachandani said the agreement has been signed at a time when the company is strategising towards delivering gigawatt-plus scale annual execution over the next few years.
Meanwhile, Sandeep Kashyap, CEO of the renewable business at RPSG Group, said CESC's green ambitions include substantial investments in renewable energy. "This (agreement) is a significant stride towards our larger green ambitions, and we aim to utilise the expertise of Inox Wind to achieve our targets," Kashyap said. Power utility CESC is the flagship company of the RP-Sanjiv Goenka Group (RPSG).
Inox Wind shares hit their all-time high of ₹578.8 apiece on Thursday, Februry 8. It was later trading 2.8^% higher at ₹557.5 apiece at 9.30am. It has gained 148.27% in the past six months and 491.88% in the past year.
Also Read: KEC International wins orders worth ₹1,175 crore, taking total order inflow past ₹14,000 crore
First Published: Feb 8, 2024 8:19 AM IST
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