Inox Wind Bags Wind Project Orders Worth 92 MW From Integrum Energy

Inox Wind has signed a binding agreement with Integrum Energy to supply, erect and commission 92 MW of wind power projects.

Inox Wind, a leading domestic wind energy solutions provider, has announced that it has signed a binding agreement with Integrum Energy Infrastructure Private Limited to supply, erect and commission 92 MW of wind power projects comprising of 2 MW (113 metre rotor diameter turbine combined with 92 metre hub height) turbines with a combination of total turnkey and limited scope supply. 

Under the agreement, Inox has been roped in to supply, erect and commission the turbines at various locations in the states of Gujarat, Karnataka, Maharashtra & Tamil Nadu by Q3 of FY 2022 for captive customers. 

The agreement also includes a turnkey order of 26 MW for which Inox Wind will provide Integrum Energy with end-to-end solutions from development and construction to commissioning and providing long-term operations and maintenance services.

Inox Wind Bags 62 MW Order to be Developed Across Gujarat and Karnataka

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The firm stated that this is a repeat order from Integrum Energy within a short period of 3 months which consisted of a 20 MW of turnkey wind project in Karnataka.

In February, we had reported that the firm had received orders for the supply and installation of wind turbine generators of 62 MW capacity from Independent Power Producers (IPPs) and retail customers spread across various industries for third-party sales and captive consumption. The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka. 

The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter Wind Turbine Generators (WTGs) as well as providing comprehensive operations and maintenance services for the lifetime of the project.

Inox Wind Reports Increased Losses Despite Higher Revenue in December Quarter

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Prior to that, the firm had issued its financial results for the quarter ended December 31, 2020, reporting a higher revenue from the previous quarter and from the same quarter in 2019, however, the firms’ net loss also widened to Rs 51.97 crore from Rs 27.47 crore during the same quarter last year. According to a corporate filing, the firms’ total income rose to Rs 209.44 crore in the quarter ended December 2020 from Rs 179.76 crore a year ago. With revenue at Rs Rs 204 crore in Q3FY21 against revenue of Rs 171 crore in Q2FY21.