Inox Wind Signs 1,500 MW Turbine Supply MoU With Inox Clean, Order Book Crosses 4.5 GW
· Free Press Journal
Mumbai: Inox Wind Limited (IWL) has signed a Memorandum of Understanding (MoU) with Inox Clean Energy for the supply of 1,500 MW of wind turbines. The agreement marks a significant step in the INOXGFL Group's renewable energy expansion plans.
The company announced that it will supply its advanced 3.3 MW and 4X MW wind turbines for renewable energy projects being developed by Inox Clean Energy across India.
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The agreement supports the INOXGFL Group's recently launched 'One Integrated' renewable energy strategy. The initiative aims to create a complete renewable energy ecosystem covering manufacturing, project execution, power generation, and operations and maintenance services.
According to the company, closer collaboration among group entities is expected to improve execution, generate stable revenues, and reduce the impact of market cycles on business performance.
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Inox Clean Energy has expanded rapidly in the renewable energy sector. The company currently has an operational portfolio of around 3.5 GW and plans to add more than 3 GW of renewable energy capacity every year. It is targeting a renewable energy portfolio of 14 GW by FY29.
The company expects 20 percent to 30 percent of its future capacity additions to come from wind energy, creating long-term demand for Inox Wind's turbines.
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Commenting on the development, Inox Wind CEO Sanjeev Agarwal said the company's existing order book stood at 3.1 GW. With the addition of the 1,500 MW MoU, the order book has crossed 4.5 GW, providing strong business visibility for the next few years.
The company believes the partnership will help accelerate India's clean energy transition while supporting its own long-term growth plans.