Inox Wind stock rallies over 3% after commissioning India's first 3.3MW new generation wind turbine in Gujarat

28 Sept 2022 , 11:23 AM

Inox Wind has announced the commissioning of India’s first 3.3 MW wind turbine in Village Ranparda, Taluka Jasdon, District Rajkot in Gujarat by the Hon’ble Chief Minister of Gujarat, Bhupendrabhai Patel. 

The revolutionary 3.3 MW wind turbine, developed with globally renowned AMSC as technology partner, features a 100 m tubular tower and 146 m rotor blades -one of the largest in its class. This wind turbine offers one of the lowest possible cost of energy thereby providing a sustainable edge in the Indian Market. The new wind turbine is dedicated towards achieving the Honourable Prime Minister of India’s vision of 50% electric power from non-fossil fuel-based energy resources by 2030.

"This turbine is not only a step towards achieving our Honorable Prime Ministers Vision of Aatma Nirbhar Bharat but also achieving the renewable energy goals. We believe this is the start of a new journey at InoxGFL Group and we would continue to align our efforts towards achieving the honorable Prime Minister’s vision and be a part of this momentous growth journey of India," said Devansh Jain, Executive Director.

Kailash Tarachandani, CEO of Inox Wind, said, "The revolutionary 3.3 MW turbine has been specifically designed for the Indian low wind regions. Due to its size, capacity and competitiveness, this state of the art WTG will be a game changer in the Indian market.

This new product will substantially contribute towards lowering the cost of energy and given its compact design shall lead to cost savings in production, transport & logistics as well as installation. This product will be commercially available in India from Jan, 2023.”

At around 11:18 AM, Inox Wind Ltd is currently trading at Rs144.45 per share up by Rs4.5 or 3.22% from its previous closing of Rs139.95 per share on the BSE.

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