Inox Wind To Scale Up Executions With A New ‘Net Cash Positive’ Tag

Inox Wind To Scale Up Executions With A New 'Net Cash Positive' Tag

Bolstered by a recent infusion of Rs 900 crores from its parent company, Inox Wind Energy Limited (IWEL), Inox Wind, an Indian wind energy company, is now poised to accelerate its execution pace. The company’s top management recently discussed the increase in its order book.

In the latest investors’ call, Devansh Jain, Executive Director of InoxGFL Group, stated, “Recently, IWEL, the parent company of Inox Wind, infused INR 900 crores into Inox Wind, making Inox Wind net cash positive and has strengthened its balance sheet to capitalize on the multi-decade opportunity in the wind sector. We have delivered on all the targets which we have set out, be it making the company net cash positive within H1 ’25, the execution ramp-up and also ensuring we get back our profitability to historical numbers in terms of the margins or better,” and gave a sneak peek at the likely business avenues for the firm in the upcoming quarters.

The company is now managing its largest-ever order book of 2.9 GW. Additionally, it expects the total wind power capacity additions in India to be around 5 GW, based on the higher levels of tenders issued by government entities in Q1.

“Our Q1 performance sets us on a robust base to rapidly scale up our execution backed by our largest ever order book of over 2.9 gigawatts with manufacturing capacities and supply chain in place. We are receiving a very strong response from the customer for our products. We have already won 611 megawatts of orders, including repeat orders from marquee customers, active discussion over multiple APPs, PSUs and C&I customers provides us large order visibility,” said Kailesh Tarachandani, CEO of Inox Wind, during the investors’ call.

He further added, “In the first 4 months of FY’25 itself, around 7 gigawatts of new wind hybrid FDRE tenders have been floated and around 7.5 gigawatts of hybrid FDRE projects awarded. Tariffs have been healthy and quantitative ranging between INR 3.4 to INR 3.5 per unit for central sector wind solar hybrid project, INR 3.6 to INR 3.68 for plain vanilla wind and around INR 5 per unit for FDRE. It is important to note that demand from our C&I segment is over and above these figures.”

Inox Wind is also preparing to commercially launch its 4 MW wind turbines in FY26, following repeated orders for its 3 MW wind turbines.

Competition on 

The company is now competing with its rivals like Pune-based Suzlon Group which is into the production of 3 MW wind turbines and Adani Group which has already enlisted its 5 MW wind turbines and have been trying to use it in large scale at its Khavda Renewable Park in Gujarat. The entry of Inox Wind’s 4 MW wind turbine platform is set to give a fillip to the wind company which is looking to transform its business with the introduction of large sized wind turbines after the success of its 3 MW wind turbine series.