Inox Wind gains on order

Inox Wind has received an order from ReNew Power Ltd under the SECI - 2 regime for 38MW wind power project to be developed at Anjar in Gujarat. Reacting to this news, the stock of the company gained by 4.19 per cent in today's morning trading session.

The mentioned project is expected to be commissioned by January 2020. The order consists of supply of 19 units of Inox Wind’s 2MW 113 metre rotor diameter turbine combined with 92 metre hub height. The DF 113/92 model has specifically been designed for low wind regime (low wind power density sites) typical for the Indian market. ReNew Power is also an existing customer of the company with an installed capacity of 236MW supplied by Inox Wind which is spread across multiple wind rich states in India.

Inox Wind is a leading wind energy solutions provider servicing IPPs, utilities, PSUs and corporate investors. The company has three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh respectively. The plants located in Ahmedabad and Barwani manufacture Blades & Tubular Towers while the plant located in Una manufactures Hubs & Nacelles. Inox Wind’s current manufacturing capacity stands at 1,600MW per annum.

On Friday at 11:30 am, the company's stock was trading at Rs. 36.60, up by 5.78 per cent or Rs. 2 per share. The 52-week high is Rs. 95 and 52-week low is Rs. 30.80 on the BSE.