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Inox Wind signs pact for 700-MW wind turbine factory in India

Wind turbines in India. Featured Image: OlegD/Shutterstock.com

This story has been corrected. Please see the corrected version here.

Feb 17, 2015 (SeeNews) - Inox Wind Ltd plans to build a wind turbine factory in the Indian state of Gujarat with an annual production capacity of about 700 MW, the company said in a statement on Tuesday.

The wind turbine manufacturer has already signed a memorandum of understanding (MoU) with the state government that envisages an investment of around INR 45 billion (USD 723.6m/EUR 633m). The project needs to be completed over the next two years in three districts, namely Rajkot, Amreli and Kutch.

Inox currently operates a factory for blades and tubular towers in Gujarat and a production facility for hubs and nacelles in Himachal Pradesh.

As of December 31, 2014, the firm’s order book reached 1,258 MW. This includes contracts with Green Infra, the renewables arm of Tata Power, Welspun Energy, amongst other sector players. Last month, Inox announced it will build two wind farms totalling 172 MW for Tata Power Renewable Energy Ltd.

(INR 10 = USD 0.161/EUR 0.141)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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