Inox Wind Secures 550 MW Project from IGREL, Shares Climb 2%

Inox Wind Secures Major Contract for 550 MW Wind Energy Project

Inox Wind Supply Price: In a significant development for the renewable energy sector, Inox Wind has recently received a Letter of Intent (LoI) from IGREL Renewables. This contract marks a major milestone as it entails the execution of 550 MW of wind energy capacity on a turnkey basis. This ambitious project underscores the growing importance of sustainable energy solutions in India’s power landscape.

Project Overview

As part of this comprehensive project, Inox Wind will take charge of supplying, installing, and commissioning cutting-edge wind turbine generators (WTGs). Importantly, the company will also provide multi-year comprehensive operations and maintenance (O&M) services following the commissioning of the turbines. This dual approach not only highlights Inox Wind’s commitment to quality but also ensures long-term operational efficiency for the project.

Market Response

Following the announcement, Inox Wind’s shares experienced a modest uptick, opening at Rs 248.30 on the Bombay Stock Exchange (BSE) on September 18. The stock demonstrated positive momentum, climbing to a high of Rs 250.55—reflecting a 2% increase from the previous closure. However, the shares later showed some volatility and dipped into negative territory, illustrating the unpredictability often associated with stock market responses to new contracts.

Timeline and Locations

According to a formal communication to the stock exchanges, Inox Wind plans to execute the project over the next 24 months. The wind energy infrastructure will be developed across multiple sites in Gujarat, Rajasthan, and Madhya Pradesh—regions that are strategically important for wind energy development in India. Notably, this new 550 MW LoI is in addition to a prior order of 200 MW that Inox Wind had successfully secured.

Conclusion

This latest development positions Inox Wind as a key player in India’s renewable energy sector, highlighting the company’s proactive approach in harnessing wind energy. As the country seeks to expand its renewable energy capacity, partnerships such as the one with IGREL Renewables will be essential for achieving sustainable growth and reducing reliance on traditional energy sources.