Inox Wind Limited has announced that it has received around Rs 900 crore from its promoter, IWEL raised the money by selling equity shares in block deals on the stock exchanges, attracting many top investors. IWEL completed the capital infusion on July 4. The money will be used to pay off Inox Wind’s external debt, helping the company become debt-free. This will improve its financial health and help it grow faster.
CEO Kailash Tarachandani said this move will strengthen the company’s finances and help it grow faster. He also mentioned that the company expects to save on interest expenses, which will boost profits. In June, CRISIL upgraded Inox Wind’s ratings due to better business performance and efforts to reduce debt. With a strong order book of 2.7 GW as of May 31, 2024, and supportive wind sector policies, Inox Wind is set for significant growth.
Inox Wind Limited (IWL) is a leading provider of wind energy solutions in India, serving independent power producers (IPPs), utilities, public sector undertakings (PSUs), and corporate investors. It is part of the INOXGFL Group, a diversified conglomerate with a rich history spanning over nine decades, focusing primarily on chemicals and renewable energy. IWL operates four advanced manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh, where it produces blades, tubular towers, hubs, and nacelles. Specializing in the 3 MW series wind turbine generators (WTGs), IWL has a manufacturing capacity of approximately 2.5 GW per year.
Inox Green Energy Services Ltd., a subsidiary of IWL, is India’s only publicly listed company providing wind operations and maintenance (O&M) services. It manages a substantial portfolio exceeding 3.2 GW and anticipates significant growth ahead. IWL offers comprehensive wind energy solutions, from initial concept and commissioning to O&M, manufacturing key WTG components internally using advanced technology to ensure high quality, reliability, and cost-effectiveness.
Certified with ISO 9001:2008, ISO 14001:2004, OHSAS 18001, and ISO 3834 standards, IWL maintains robust management systems for manufacturing, installation, commissioning, and O&M of wind turbines. Backed by strong promoters, a healthy financial position, solid stakeholder relationships, and promising market prospects, IWL is poised for a dynamic journey of expansion and profitability.