Inox Wind Ltd: Paving the Way for a Greener Tomorrow

Ahmedabad, November 30, 2023 — The management team from Inox Wind Ltd., a leading player in India's wind energy sector, met with investors, during an insightful roadshow held in Ahmedabad. The roadshow was aimed at raising investor’s awareness around the promising growth trajectory of India's wind energy sector and underscore the pivotal role played by Inox Wind in shaping the country's renewable energy landscape.

In line with the ambitious target set by the Honourable Prime Minister Shri Narendra Modi to achieve 500 GW of installed renewable capacity by 2030, India is witnessing substantial investments in the renewable sector. During interactions with the investor community in Ahmedabad, the Management Team of Inox Wind shared insights into the company's anticipated growth journey over the next decade. Emphasizing its leadership in the Wind OEM space, the team highlighted Inox Wind's consistent performance on both financial and operational fronts in recent quarters, as well as its strategic preparations to meet the escalating demand for wind power in India.

Commenting on the occasion, Mr. Manish Garg, Senior General Manager – Finance & Strategy, remarked that the company has a target to execute 500MW in FY24 and 600MW in FY25 and reach its historical consolidated EBITDA margins of 15% in FY25.

Speaking to the investors, the team also highlighted the robust order book which is close to 1300 MW from Public Sector Undertakings (PSUs), Independent Power Producers (IPPs), Commercial and Industrial (C&I) entities, and Retail customers. Indian wind sector is poised for a strong growth over the next decade, which will result in robust ordering for Wind turbines across customers segment. This surge is expected to lead to substantial profitability growth for Inox Wind over the coming quarters.

The company also highlighted the cutting-edge 3.3MW wind turbines, marking a significant technological leap. With a manufacturing capacity exceeding 2GW, Inox Wind solidifies its position as one of the country's largest players in the wind energy sector.

About Inox Wind Ltd

Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the USD ~ 5 BN INOXGFL Group, the group has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with three state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh. The Plant near Ahmedabad (Gujarat) and Barwani (Madhya Pradesh) manufactures Blades & Tubular Towers while Hubs & Nacelles are manufactured at the Company’s facility at Una (Himachal Pradesh). It also has a facility for manufacturing Hubs & Nacelles at Bhuj, Gujarat. Inox Wind’s manufacturing capacity stands at 1,600 MW per annum. With its state-of-the art 3 MW series WTG offering, IWL is embarking on an exciting journey of growth and profitability.  IWL manufactures key components of WTGs, using the most advanced technology, in-house, to maintain high quality, reliability and cost competitiveness. IWL has obtained ISO 9001:2008, ISO 14001:2004, OHSAS 18001 and ISO 3834 certifications for its management systems pertaining to the manufacturing, installation, commissioning and O&M of wind turbines. Inox Wind offers complete end-to-end solutions from concept to commissioning. Besides manufacturing and supply of WTGs, Inox Wind offers services including wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and long-term O&M of wind power projects.