Feb 11, 2015 (SeeNews) - Indian wind turbine maker Inox Wind Ltd on Monday clinched a deal to build and equip 166 MW of wind farms at home for domestic renewable energy producer Green Infra Ltd.
Inox Wind, part of Gujarat Fluorochemicals Ltd, will develop and construct the plants on a turnkey basis in the states of Gujarat, Madhya Pradesh and Rajasthan. Under the order, it will deliver 83 pieces of its 2-MW turbines and will also operate and maintain the plant following completion.
The wind farms are expected to be switched on in phases by December 2015, the company’s director Devansh Jain said, as quoted by the Economic Times. He did not provide financial details on the contract.
Inox Wind plans to build a new factory in Madhya Pradesh where it will make 800 MW of nacelles and hubs, 800 MW of blades and 600 MW of turbine towers annually. It is to be commissioned next year, Jain said.
Meanwhile, the Indian wind turbine manufacturer is also preparing for an initial public offering (IPO), which will be held in March-April, industry executives have told the Economic Times. According to them, the firm is to hold road shows for the up to INR-7-billion (USD 113m/EUR 99.5m) offering in Hong Kong, Dubai and London.
(INR 100 = USD 1.608/EUR 1.422)