- Long Term Rating CRISIL AA- Reaffirmed
- Short Term Rating CRISIL A1+ Reaffirmed
Noida, 14th june 2017:Inox Wind Limited, India’s leading wind energy solutions provider, is pleased to announce 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’s AA rating for long-term instruments is the second highest rating afforded by CRISIL for long-term facilities and reflects a high degree of safety regarding timely servicing of financial obligations and very low credit risk. Inox Wind is one of the select few companies in India which have been given the AA or higher rating. Less than 4 percent out of the approx 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 and lowest credit risk.
CRISIL believes that Inox Wind is well placed to capitalize on the long-term opportunities given its cost competitiveness and established market position under the auction regime. The reaffirmation of ratings reflects Inox Wind’s leading market position, industry-leading margin profile, strong operating efficiency, 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 is amongst the largest in the world, has doubled Inox Wind’s manufacturing capacity to 1,600 MW per annum.
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 881