APTEL reinstates Inox Wind's 50 MW wind energy project in Kutch; Stock gains near 1%

13 Jan 2022 , 09:10 AM

Inox Wind announced that the Appellate Tribunal of Electricity (APTEL) has reinstated its 50 MW wind energy project in Kutch undertaken by its wholly owned subsidiary at a tariff of Rs 3.46 per unit.

Appeal No. 292 of 2021 filed by Wind Four Renergy Private Ltd (WFRPL), a wholly owned subsidiary of Inox Green Energy Services Limited (IGESL), (earlier known as Inox Wind Infrastructure Services Limited), has been allowed by Appellate Tribunal for Electricity (APTEL), New Delhi vide its Order dated 11th January, 2022,” it stated in a BSE filing.

Inox Wind is currently trading at Rs125.60 up by Rs1.05 or 0.84% from its previous closing of Rs124.55 on the BSE. The scrip opened at Rs126.50 and has touched a high and low of Rs126.90 and Rs125 respectively. 

As directed in the order, the 50 MW (SECI Tranche – 1) wind power project of WFRPL being undertaken in Kutch (Gujarat), awarded by the Solar Energy Corporation of India (SECI), has been reinstated at a tariff of Rs 3.46 per KWH.

It further added that APTEL has directed to set aside the invocation/ encashment of its bank guarantee, and to extend the scheduled commercial operation date (SCOD) of the project by the requested period