With Infusion Of Rs 900cr, Inox Wind To Achieve Net Debt Free Status

With Infusion Of Rs 900cr, Inox Wind To Achieve Net Debt Free Status

Indian wind energy company Inox Wind Limited (IWL) today announced the completion of infusion of around Rs 900 crores into the company by its promoter Inox Wind Energy Limited (IWEL). The funds were raised by IWEL on May 28, 2024, through the sale of equity shares of IWL through block deals on the stock exchanges, witnessing participation of several marquee investors. The funds will be utilised by IWL to completely pare down its external term debt to achieve a net debt free status*

Kailash Tarachandani, CEO of Inox Wind, remarked, “It has been a remarkable journey so far. This fund infusion will help us become a net debt free company, strengthening our balance sheet and help accelerate our growth. We expect substantial savings in interest expenses going ahead, aiding our profitability further. With all the building blocks in place, be it our execution capabilities, state-of-the-art technological offerings, financial strength, robust order book and a large order pipeline, we are geared up to embark on a substantial growth journey ahead.”

Inox Wind Limited (IWL) is an Indian leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 8 BN INOXGFL Group which 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 four state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at ~ 2.5 GW per annum.

IWL’s subsidiary, Inox Green Energy Services Ltd., is the only listed wind O&M services company in India, having a strong portfolio of >3.2GW and a multifold growth path ahead, the firm said.

IWL offers complete end-to-end wind energy solutions from concept to commissioning to O&M, manufacturing key components of WTGs, using the advanced technology, in-house, to maintain high quality, reliability and cost competitiveness. IWL has 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.