Inox Wind Secures 50 MW Project in Maharashtra at Rs 2.86 Per Unit | CORPORATE ETHOS

Inox Wind Secures 50 MW Project in Maharashtra at Rs 2.86 Per Unit

By: | March 8, 2018
inox

Mar 8: Inox Wind Ltd (IWL), one of India’s leading wind energy solutions providers, on Thursday said that it has won 50MW in the Maharashtra state auctions.

“The bid was won at a fixed price of Rs 2.86/unit for 25 years. This win is on back of the 300MW order win from SECI-1 auctions, 300MW in SECI-2 auctions and 200MW from SECI-3 auctions. This win enhances our auction based order book to a sector leading 850MW,” the company said in a statement.

According to the company, the 50MW project would be executed over the next 12-15 months and the company will be responsible for the development, construction and commissioning and will provide long term operations and maintenance services.

Commenting on the development, Kailash Tarachandani, Chief Executive Officer, IWL, said, “with this auction the government has auctioned 5.5GW in SECI & state auctions this year and we look forward to a strong end to the year with the upcoming 2GW SECI-4 auction and 500MW (with 500MW Greenshoe option) Gujarat auction. We look forward to contributing towards achieving the 60GW wind power capacity goal by 2022 as shared by the Honourable Power Minister through the 10GW wind power auctions in FY19 and FY20 each. The Maharashtra wind power auction tariff of Rs 2.86/unit also highlights our belief that states with lower PLF sites will show higher tariffs than what are discovered in central auctions where higher PLF sites are used.”

Headquartered in Noida, IWL is a part of the Inox Group of Companies which has interests in various businesses including industrial gases, refrigerants, engineering plastics, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment and a subsidiary of Gujarat Fluorochemicals Ltd.