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Inox Wind spurts on inking pact to launch 4.X MW wind turbine generator in India
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Inox Wind is currently trading at Rs. 534.85, up by 7.65 points or 1.45% from its previous closing of Rs. 527.20 on the BSE.
The scrip opened at Rs. 534.80 and has touched a high and low of Rs. 545.50 and Rs. 531.45 respectively. So far 26983 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 547.05 on 06-Feb-2024 and a 52 week low of Rs. 90.50 on 14-Feb-2023.
Last one week high and low of the scrip stood at Rs. 547.05 and Rs. 461.05 respectively. The current market cap of the company is Rs. 17514.84 crore.
The promoters holding in the company stood at 52.87%, while Institutions and Non-Institutions held 19.37% and 27.76% respectively.
Inox Wind (IWL) has signed an exclusive agreement with Wind to Energy (W2E), a global provider of technology and design for wind turbines, to launch the 4.X MW wind turbine generator (WTG), which has been designed for low wind regimes in India. It has always been Inox Wind’s endeavour to reduce the cost of wind energy for its clients and the 4.X MW turbine is another in the series of turbines launched by Inox Wind to achieve the same. The 4.X MW WTG of W2E is a proven platform with several years of global operational history. The addition of the 4.X MW series turbines bolsters IWL’s existing product portfolio, which includes the existing 2 MW and 3 MW series, and provides it a significant edge to cater to the demand upsurge in the wind sector. It further secures the company from a technology standpoint over the next decade.
The 4.X MW wind turbine with a large rotor diameter is going to be a revolutionary product in India, improving energy yields, reducing levelised cost of energy (LCoE) and offering superior performance to harness low wind sites optimally, thereby setting new benchmarks in the Indian wind industry. Inox Wind is currently manufacturing and operating its 2 and 3 MW turbines with multiple blade and tower variants on existing perpetual licences with AMSC with whom IWL has a very strong relationship. While the company will target installations of its 4.X series WTGs across certain sites in the country, the 3MW series, with access to most major wind sites, will be the workhorse over the next several years.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate Investors.
