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Inox Wind gets 2 wind farm projects from Tata Power subsidiary

Livemint:  January 28, 2015

Mumbai: Inox Wind Ltd, a unit of Gujarat Fluorochemicals Ltd, said on Tuesday that it has been awarded two wind farm projects of 54 megawatts (MW) and 118MW in Gujarat and Rajasthan, respectively, by Tata Power Renewable Energy Ltd, a subsidiary of Tata Power Ltd.

The agreement requires Inox Wind to supply, erect and commission 86 units of its 2MW wind turbine generators.

The Gujarat project, located near Rojmal village of Bhavnagar district, is to be completed by June, while the Rajasthan project located near the Dangri village of Jaisalmer district is to be completed in two stages by March 2016, Inox Wind said in a statement.

Inox Wind is responsible for site acquisition, project development, erection and commissioning, and also providing long-term operations and maintenance of wind power projects, it added.

“This deal demonstrates the potential that India holds for wind energy and Inox’s growing presence in the sector,” chief executive Kailash Tarachandani said.

In July, Inox Wind said it has received the Securities Exchange Board of India’s approval to sell shares to the public for the first time. The company plans to raise around Rs.700 through the offer and a secondary issue for an additional Rs.300 crore, Devansh Jain, director at Inox Wind, told Bloomberg News in August.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation