Inox Wind climbs 6% on bagging 200MW project from NTPC arm

Shares of climbed over 6 per cent in Wednesday's trade after the wind energy solutions provider bagged a 200 MW wind power project from Renewable Energy, an NTPC arm, to be commissioned in the state of Gujarat.

The project will be executed on a turnkey basis at the Dayapar site, Kutch District, Gujarat and is scheduled to be commissioned by January 2024, Inox Wind said in a filing to BSE.

Following the development, the scrip surged 6.3 per cent YoY to hit a high of Rs 104.50.

This is the second project awarded by NTPC to Inox Wind in the recent past, after a 150 MW order that was received last year. A few years ago, INOX Wind had executed a 50 MW turnkey wind project for NTPC in Gujarat.

"We hope to foster a long-term relationship with NTPC and become their trusted supplier and an enabler in achieving their ambitious renewable energy target," said CEO Kailash Tarachandani.

Inox Wind, which provides integrated solutions for the entire wind power value chain, said that it enjoys one of the largest order books in the industry and has further strengthened its order book with the latest repeat order.

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