Inox Wind wins 50MW in the Maharashtra State auctions
  • Inox Wind has won 50MW in the Maharashtra state auctions at a fixed price of Rs 2.86/unit for 25 years.
  • Sector leading auction based order book stands at 850MW

Noida, March 08, 2018:: Inox Wind Limited, one of India’s leading wind energy solutions providers, has won 50MW in the Maharashtra state auctions. The bid was won at a fixed price of Rs2.86/unit for 25 years. This win is on back of the 300MW order win from SECI-1 auctions, 300MW in SECI-2 auctions and 200MW from SECI-3 auctions. This win enhances our auction based order book to a sector leading 850MW.

The 50MW project would be executed over the next 12-15 months and Inox Wind will be responsible for the development, construction and commissioning and will provide long-term operations and maintenance services. Our wins in SECI and Maharashtra state auctions are the testament to our competitiveness in the auction regime. Our low-cost structure makes us one of the lowest cost producers of wind turbines and places us in an ideal position under this regime. We would also highlight that our order book can be higher from the Maharashtra auction if we are selected by other winning IPPs as a WTG provider for their bids. We remain committed to execute these projects on a profitable basis meeting our company targets.

Mr. Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited said, “With this auction, the government has auctioned 5.5GW in SECI & state auctions this year and we look forward to a strong end to the year with the upcoming 2GW SECI-4 auction and 500MW(with 500MW Greenshoe option) Gujarat auction. We look forward to contributing towards achieving the 60GW wind power capacity goal by 2022 as shared by the Honourable Power Minister through the 10GW wind power auctions in FY19 and FY20 each. The Maharashtra wind power auction tariff of Rs2.86/unit also highlights our belief that states with lower PLF sites will show higher tariffs than what are discovered in central auctions where higher PLF sites are used.”

ABOUT INOX WIND:

Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. Inox Wind Limited (IWL) 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 as well. The facility at M.P. is amongst the largest in the world and 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. Inox Wind offers complete end to end solutions from concept to commissioning. Besides manufacturing and supply of WTGs, Inox Wind 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:

Atul Soni
Head – Investor Relations
Inox Group
Phone: 0120- 6149 881
Email- atul.soni@inoxwind.com