The shares of wind energy solutions provider Inox Wind were up 3 per cent on Monday after the company bagged an order of 150 MW wind power project from NTPC Renewable Energy Limited.
At 12:39 pm, Inox Wind was trading at ₹138.10 on the BSE, up ₹4.45 or 3.33 per cent. It had opened at ₹136.70 as against the previous close of ₹133.65. It recorded an intraday high of ₹139.40 and a low of ₹134.75.
On the NSE, it was trading at ₹137.45, up ₹3.70 or 2.77 per cent.
The company announced that it has bagged an order for a 150 MW wind power project from NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Limited, to be commissioned in Gujarat.
“This amongst many more in the future will help NTPC achieve its target of having over 60 GW Renewable Energy capacity constituting nearly 50 per cent of its overall power generation capacity by 2032. The Project will be executed on a turnkey basis at Dayapar site, Kutch District in the state of Gujarat and is scheduled to be commissioned by April 2023,” it said in an official release.
As part of the order, the company will supply and install DF 113/92 - 2.0 MW capacity Wind Turbine Generators with 113 meters rotor diameter and 92 meters hub height. The common infrastructure facilities such as the 220 KV Pooling Substation at Dayapar and Extra High Voltage Transmission line has already been commissioned and thus the Project will be executed on a plug and play basis with a shorter gestation period.
The company will responsible for providing comprehensive operation and maintenance (O & M) for the lifetime of the project as part of the order. This will add to its multi gigawatt O & M fleet and help grow the overall profitability, it said.
Kailash Tarachandani, CEO of Inox Wind, said ‘We are very excited to bag this prestigious project from NTPC. We look forward to being a long term and trusted supplier for NTPC and be partners in NTPC’s vision of achieving its ambitious Renewable Energy target. This also happens to be the largest order awarded by a PSU in recent times.”
‘With the current portfolio and this latest award the O&M business is looking very robust and all geared to embark on a strong growth trajectory’ said Tarachandani.