Inox Wind Limited, a major player in India’s wind energy sector, announced today that the board of its subsidiary, Resco Global Wind Services Pvt. Ltd., has approved an equity raise of ₹350 crore from marquee investors. This investment will be used to scale up Resco Global’s operations and leverage growth opportunities in the Indian wind sector.
At 1 p.m. today, the shares of Inox Wind Limited were trading at ₹216.20, down ₹4.91 or 2.22 per cent on the NSE.
The company plans to expand its service offerings by offering crane services and hybridizing its power evacuation assets, responding to favorable renewable energy policies in various states.
The fresh capital injection aims to support the company’s large-scale project developments and enhance its infrastructure capabilities. Resco Global’s parent company, Inox Wind, boasts a strong order book of approximately 3 GW, ensuring a stable revenue pipeline for the future.
This equity raise marks a significant step for Inox Wind in solidifying its presence in the renewable energy market, aligning with India’s ambitious renewable capacity targets.