- Long Term Rating CRISIL AA- Reaffirmed
- Short Term Rating CRISIL A1+ Reaffirmed
Noida, 9th August 2016: Inox Wind Limited, India’s leading wind energy solutions provider, announced that CRISIL has reaffirmed the ‘CRISIL AA-’ rating for Inox Wind’s Long Term Bank Facilities. Additionally, the ‘CRISIL A1+’ rating on the company’s short-term bank loan facilities has also been reaffirmed. CRISIL is a global analytical company and is India’s foremost provider of ratings. CRISIL has revised its outlook on the long-term bank facilities of the company to Negative from Stable.
CRISIL’s AA rating for long term instruments is the second highest rating afforded by CRISIL for long term facilities and reflects instruments with high degree of safety. Inox Wind is one of the select few companies in India which have been given the AA or higher rating. Less than 5 percent out of the close to 14,000 firms rated by CRISIL are assigned the AA or higher rating. CRISIL’s A1 rating is the highest rating given for short term facilities and reflects instruments with the highest degree of safety.
The reaffirmation of ratings reflects Inox Wind’s leading market position, strong operating efficiency, healthy order book, strong technology tie-ups and robust execution capabilities.
ABOUT INOX WIND:
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. Inox Wind is a fully integrated player in the wind energy market with three state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. The plant near Ahmedabad (Gujarat) manufactures Blades & Tubular Towers while Hubs & Nacelles are manufactured at the company’s facility at Una (Himachal Pradesh). The new integrated manufacturing facility at Barwani (Madhya Pradesh) manufactures blades, towers and will manufacture nacelles and hubs. The facility at M.P., which will be amongst the largest in the world, has doubled Inox Wind’s manufacturing capacity to 1,600 MW per annum. The company had an order book of 1,104 MW as of March 31, 2016. Fresh orders announced add further to the outstanding order book.
IWL manufactures key components of WTGs in-house to maintain high quality, most advanced technology, reliability and cost competitiveness. IWL has obtained ISO 9001:2008, ISO 14001:2004, OHSAS 18001 and ISO 3834 certifications for its management systems pertaining to manufacturing, installation, commissioning and O&M of wind turbines.
IWL offers complete end to end solutions from concept to commissioning. Besides manufacturing and supply of WTGs, IWL offers services including wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and long term O&M of wind power projects.
For more information please contact:
Head – Investor Relations
Phone: 0120- 6149 600