Inox Wind secures new 150 MW order from NTPC RE; stock jumps ~8%

30 May 2023 , 10:18 AM

Inox Wind Limited informed the bourses that the company has bagged an order for a 150 MW wind power project from NTPC Green Energy Limited’s wholly-owned subsidiary, NTPC Renewable Energy Limited.

The company will execute the project in Gujarat. With the receipt of this order, the total orders from NTPC stand at 550 MW awarded till date to Inox Wind.

Inox Wind’s CEO Kailash Tarachandani expressed his gratitude towards NTPC REL for receiving this 150 MW project. He further highlighted the company looks forward to a long-term partnership with NTPC, to serve the company as their trusted supplier and contribute towards the realization of their ambitious renewable energy goals.

The government has launched initiatives such as the ‘Atma Nirbhar Bharat Abhiyan’ to support its ambitious aim of 175 GW renewable energy targets by 2022, and 450 GW by 2030.

Inox Wind has a substantial order book, placing it as one of the key players in the industry. The company further stated that its latest order strengthens its position in the market and supports its commitment to the renewable agenda of India.

Following this development, Inox Wind was trading 8.08% higher at Rs 145.05, against the previous close of Rs 134.20 on NSE.

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