Inox Wind Limited has signed a memorandum of understanding with Inox Clean Energy to supply 1,500 MW of wind turbines for renewable energy projects across India.
The MoU covers the supply of Inox Wind's 3.3 MW and 4X MW wind turbines. The agreement is part of the INOXGFL Group's 'One Integrated' renewable strategy, which combines Inox Clean Energy, Inox Renewable Solutions, Inox Green Energy Services, and Inox Wind into a vertically integrated renewable energy platform covering manufacturing, EPC, IPP, and O&M services.
Inox Clean has achieved an operational renewable portfolio of approximately 3.5 GW within two years. Inox Clean plans to add over 3 GW of capacity annually and targets an operational portfolio of 14 GW by FY29. About 20 to 30 percent of annual additions are expected to be wind, providing multi-year recurring order visibility for Inox Wind.
Inox Wind CEO Sanjeev Agarwal said the MoU adds to the existing order book of 3.1 GW, taking it past 4.5 GW and covering requirements for the next few years. He said Inox Clean's growth plans position Inox Wind as a key partner in the Group's energy transition efforts.
Inox Clean CEO Bharat Saxena said the MoU marks a milestone in executing the Group's integrated renewable strategy. The partnership provides Inox Clean with access to wind manufacturing, execution, and O&M capabilities within the Group, enabling faster project execution and greater supply chain certainty as Inox Clean scales its renewable energy platform.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.