Inox Wind Targets 2 GW Wind Energy Projects by FY26

Inox Wind (IWL) has announced an ambitious goal to complete 2,000 megawatts (MW) of wind energy projects by the end of FY26. The company, which successfully executed 140 MW in the first quarter of FY25, aims to further capitalize on its robust order book of approximately 3,000 MW. The planned execution includes 800 MW in FY25 and 1,200 MW in FY26, according to Devansh Jain, Executive Director of INOXGFL Group.

The company has already secured 611 MW in orders, with repeat business from key clients, and is in talks with various independent power producers, public sector units, and commercial customers to secure additional large-scale orders. The wind energy market is showing strong potential, with around 7,000 MW of wind hybrid tenders floated and 7,500 MW awarded in the first four months of FY25, noted Inox Wind CEO Kailash Tarachandani.

The positive outlook is further supported by healthy tariffs for wind energy projects, ranging from ₹3.4 to ₹5 per unit. Jain expressed optimism, citing the company's strengthened balance sheet following a ₹900 crore infusion from its parent company, IWEL, which has positioned IWL for significant growth in the coming years.

To support this expansion, IWL is establishing a new nacelle manufacturing unit near Ahmedabad, expected to be operational by 2024, which will help reduce capital expenditure. The company is bullish on the Indian wind sector, particularly with the growing demand for renewable energy amid India’s green energy transition and the government's ambitious renewable energy targets.

News by Rahul Yelligetti