Inox Wind signs term sheet with Continuum Power Trading

Inox Wind informed the exchanges of its signing a term sheet with Continuum Power Trading (TN) Private Limited, which is a part of Continuum Wind Energy group for an EPC contract for 250 MW.

The contract includes to supply, erect, and commission 250 MW of wind power projects (in two phases of 126 MW and 124 MW), comprising of a mix of 2 MW (113 metre rotor diameter turbine combined with 92 metre hub height) and 3 MW (145 metre rotor diameter turbine combined with 120 metre hub height) turbines. The first phase of 126 MW of the project is expected to be commissioned by Q3FY21 at Dayapar, Gujarat, and will be executed on a turnkey project basis.

As a part of the turnkey order, Inox Wind will provide Continuum Power with an end-to-end solution from development and construction to commissioning and providing long-term operations and maintenance services. Common infrastructure, such as 220 KV Pooling Substation at Dayapar, 220 KV Bay at PGCIL Nirona End, and 220 KV Transmission Line for 72 km, is ready and the project will be executed on a plug and play basis. The two companies are partnering again after the 170 MW of Inox’s turbines, which already is operating at Continuum’s windfarm at Ratlam in Madhya Pradesh since 2015.

Inox Wind is a leading wind energy solutions provider servicing IPPs, Utilities, PSUs, and Corporate investors. It is a fully integrated player in the wind energy market, with three state-of-art manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh.

On Monday, the stock of the company closed at Rs 34.70, up by 2.51 per cent or Rs 0.85 per share. The 52-week high is Rs 80.75 and 52-week low is Rs 30.8 on BSE.