Inox Wind Limited (IWL) has entered into a Memorandum of Understanding (MoU) with Inox Clean Energy (Inox Clean) for the supply of 1,500 MW of wind turbines for renewable energy projects across India.
Under the agreement, IWL will provide its 3.3 MW and 4X MW wind turbine generators for projects being developed by Inox Clean in various regions of the country. The collaboration is expected to support the expansion of Inox Clean’s renewable energy portfolio while strengthening IWL’s order pipeline.
According to the company, the arrangement aligns with the broader collaboration framework among entities within the INOXGFL Group, aimed at enhancing project execution capabilities, driving business growth and creating synergies across group companies. The partnership is also expected to provide greater visibility for future business opportunities.
The development follows the launch of the Group’s ‘One Integrated’ renewable energy strategy, which seeks to establish a comprehensive renewable energy ecosystem spanning manufacturing, engineering, procurement and construction (EPC), independent power production (IPP), and operations and maintenance (O&M) services.
The strategy brings together the capabilities of Inox Clean Energy, Inox Renewable Solutions (IRSL), Inox Green Energy Services and Inox Wind with the objective of creating an integrated renewable energy platform focused on execution efficiency, recurring revenue generation and long-term growth.
As part of this strategy, Inox Clean, the Group’s renewable IPP and solar cell & module manufacturing business is rapidly emerging as one of the leading renewable platforms globally. The company has become one of the fastest renewable energy companies to achieve an operational portfolio of approximately 3.5 GW within the first two years of operations and plans to add over 3 GW of renewable capacity annually going forward. Inox Clean is targeting an operational renewable portfolio of 14 GW by FY29. Approximately 20%-30% of these annual additions are expected to be wind, translating into multi-year recurring order visibility for Inox Wind and creating a strong foundation for sustained growth.
Commenting on the development, Mr. Sanjeev Agarwal, CEO, Inox Wind Ltd. said, “We are delighted to have signed this MoU with Inox Clean for the supply of 1,500 MW of advanced wind turbines. Inox Clean has ambitious plans to develop and deliver long-term clean energy solutions to its customers, and we are pleased to be a key partner in the Group’s mission to accelerate India’s energy transition, while also benefiting from a steady multi-year order inflow. We have a robust order book of 3.1 GW and, with this new MoU, our order book crosses 4.5 GW, which covers us for the next few years.”
Speaking on the occasion, Mr. Bharat Saxena, CEO, Inox Clean Energy said, “This MoU represents a significant milestone in the execution of the INOXGFL Group’s ‘One Integrated’ renewable strategy. As Inox Clean accelerates towards its target of building a 14 GW renewable energy portfolio by FY29, having access to world-class wind manufacturing, execution and O&M capabilities within the Group provides us with a distinct competitive advantage. The partnership with Inox Wind will enable faster project execution, greater supply chain certainty and improved capital efficiency as we continue to scale one of India’s fastest-growing renewable energy platforms.”
