Inox Wind, a wind energy solutions providers, has closed a deal to develop a 100 MW wind power project for Adani Green Energy, part of the Adani Group, in Kutch, Gujarat.
The project is scheduled to be executed over the next six to nine months. Inox Wind will supply, erect, and commission 50 of its advanced 2 MW Wind Turbine Generators (WTGs). Inox Wind will also be responsible for operation and maintenance (O&M) of the projects.
“This order positions Adani Green Energy as the leader in India’s wind energy sector in the auction regime. Due to the ongoing shift in the wind power sector, we are at a juncture where clean energy resources will define our future. Inox Wind has been our partner of choice and we are delighted to be working with them again,” said Mr Jayant Parimal, CEO, Adani Green Energy.
“We are delighted to sign the deal with India’s leading IPP, Adani Green Energy. We believe that Inox Wind would be a major beneficiary in the auction based market regime, due to its inherent cost-competitive advantage. The upcoming SECI & state auctions will begin a new phase of robust growth for the wind industry, critical for reaching the country’s 60 GW wind power capacity goal by 2022,” Mr. Kailash Tarachandani, Chief Executive Officer of Inox Wind.
Adani had won a bid to develop 50 MW of wind by quoting ₹3.46 (~$0.051)/kWh. The increase in Adani’s wind project capacity from 50 MW to 100 MW can be attributed to Inox Wind down selling 50 MW of wind capacity to Adani, it won at the auction, stated an Inox Wind official.
The remaining 200 MW that Inox won will also be sold to other clients in the future. “Inox is one of the lowest cost producers of wind turbines in India, so lower finance and working capital costs coupled with higher volumes should have a positive impact on profitability and are expected to negate the impact of lower wind tariff for developers, thus creating a larger and profitable market for Inox,” added the official.
Mercom reported in July 2017 that PPAs for wind projects aggregating 1,050 MW were signed between PTC India and developers who won projects in the first ever wind auction conducted by SECI.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.