Ability to provide turnkey solutions for wind farm projects in India
Based on our experience of working with customers in India, we believe many customers prefer not to engage in Wind Site acquisition and other processes associated with the development of wind farm projects. Our Company, together with our wholly-owned subsidiaries, IWISL and MSEIL, provides turnkey solutions for wind farm projects. These services include wind resource assessment, site acquisition, infrastructure development, erection and commissioning and long term operations and maintenance of wind power projects.
High quality WTGs based on sophisticated technology and design
We manufacture the major components of our WTGs, including nacelles, hubs, rotor blade sets and towers, at our in-house facilities. We have a perpetual license from AMSC, a leading wind energy technology company based in Austria, to manufacture 2 MW WTGs in India based on AMSC’s proprietary technology. Our license in India is exclusive, subject to three existing licenses that AMSC had previously granted for the production and sale of 2 MW WTGs worldwide, including in India. AMSC’s state-of-the-art wind turbine designs range from offerings of 1.65 MW to 10 MW and more than 15,000 MW of installed capacity has been operating globally for multiple years based on AMSC’s designs. We also have a non-exclusive license from WINDnovation for custom-made rotor blade sets. Our Type Class III-B 2 MW WTGs have been designed and developed after due assessment of wind site qualities and conditions across low wind resource locations, such as those in India. Our WTGs are designed and developed with a view to achieving efficient power curves, improved up-times and reducing operations and maintenance costs.
Strong order book and ready pipeline of Project Sites
Inox Wind has one of the largest order books in the industry with multiple repeat orders. As of March 31st 2016, the company had an order book of 1,104 MW with robust order inflow visibility. We continue to strengthen position and increase our market share across IPPs, PSUs, utilities, corporates and retail customers. Based on detailed wind resource assessment, a significant land bank has also been acquired by the company. IWL has the largest project site inventory spread across wind rich states and currently has sufficient land bank for the installation of an aggregate capacity of more than 4,500 MW.
Efficient cost structure
We manufacture the key components of our WTGs in-house. We believe that this helps ensure cost competitiveness, cost-effective logistics and attractive margins. Our license to use AMSC technology reduces our research and development expenses and we operate with a strong focus on controlling operating and financing costs. We have split up our existing manufacturing activities with a view to ensure cost-efficiency. Our existing rotor blade and tower manufacturing facilities are located at our Rohika Unit in Gujarat, which is located adjacent to a highway to facilitate easier handling during transportation to Wind Sites and sea ports, and in relatively close proximity to the states that we believe offer good potential in terms of wind energy production, such as Rajasthan, Gujarat, Maharashtra and Madhya Pradesh. Because nacelles and hubs are more easily transported than rotor blade sets and towers, we currently manufacture nacelles and hubs at our Una Unit in Himachal Pradesh, in order to benefit from certain tax incentives. Our new integrated manufacturing facility at Barwani, Madhya Pradesh is in close proximity to projects in Madhya Pradesh and Rajasthan. In addition, based on our operating and financial performance, we believe that our cost structure is among the most competitive in the wind turbine manufacturing industry. For example, we believe that our operating and net margins are relatively high and that our operating and total cost per MW is relatively low compared to a number of major wind turbine manufacturers inside and outside of India
Strong management team
Our senior management has extensive experience in the quality, engineering, supply chain management, manufacturing, marketing, project development and maintenance of WTGs. Each of our senior managers in charge of these functions has an average of more than ten years of experience in their respective fields and considerable experience in the wind energy industry.
Recognized and trusted corporate group
We are a member of the Inox Group, which commenced operations in 1923 and currently operates in the industrial gases, engineering plastics, refrigerants, chemicals, cryogenic engineering, renewable energy and entertainment sectors. The Inox Group, which includes two publicly-listed companies, namely Gujarat Fluorochemicals Limited, or GFL, and Inox Leisure Limited, is a market leader in various industries in India. Our promoter, Gujarat Fluorochemicals Limited, or GFL, has been a pioneer of carbon credits in India and has been among the largest generators of carbon credits globally. GFL is also the largest producer by volume of refrigerants and polytetrafluoroethylene (PTFE), a synthetic fluoropolymer, in India. We believe Inox is a recognized and trusted brand in India. The Inox Group employs more than 8,000 people at more than 100 business units across India, with a distribution network spread across more than 50 countries around the world. We believe that the Inox Group’s long history, business relationships and financial stability instill confidence in our customers who prefer dependable and established suppliers for long-term projects such as wind farms.