| Company | Value | Change | %Change |
|---|
The same are to be delivered within the first six months of 2025 and will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka. Inox Wind will also provide multi-year post-commissioning operations and maintenance services for the wind turbines.
The power generated from the project will be supplied to Serentica’s partners, including the Vedanta Group, the company said in an exchange filing.
“As India’s commercial and industrial players accelerate their transition to green energy, we believe our tailored products and solutions for the wind projects will be one of the important catalysts driving this move,” Kailash Tarachandani, group CEO, Inox Wind Ltd, said.
Akshay Hiranandani, CEO of Serentica Renewables, said the company is committed to enabling the decarbonisation of energy-intensive industries through innovative and sustainable solutions. “Together, we aim to accelerate India’s transition to a sustainable energy future while setting new benchmarks in renewable power generation,” he said.
On Tuesday, December 17, Devansh Jain, the executive director of InoxGFL Group, said Inox Wind has maintained its target to achieve a fourfold increase in revenues in the ongoing fiscal, compared to the previous year.
Inox Wind is the listed wind turbine manufacturing arm of the InoxGFL Group. The group’s other two listed entities are Inox Green, which handles operations and maintenance (O&M) services, and Gujarat Fluorochemicals, the chemicals arm.
Inox Wind is also on track to deliver close to 800 megawatts (MW) this year, a substantial jump from the 376 MW delivered in 2023-24 (FY24).
In 2025-26 (FY26), it targets delivering around 1,200 MW, supported by a strong and growing order book.
The current order book stands at 3.5 gigawatts (GW).
“We have several orders that are in advanced stages of finalisation. We can take on as many orders as we need. In fact, we are sold out for the next two years, based on our ambition to supply turbines,” Jain added.
Inox Wind recently raised its earnings before interest, taxes, depreciation, and amortisation (EBITDA) guidance for the third time, to 17% from 15%, with the possibility of further upgrades in the coming quarters.
Inox Wind shares ended 1.62% lower at ₹192.19 apiece on Tuesday, December 17. The stock has gained 46.61% this year, so far.
