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This supply order is to be delivered within H1 CY25 and it will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka.

The power generated from this project will be supplied to Serentica’s partners, including the Vedanta Group.

This order for IWL opens up large future opportunities to partner with another marquee C&I customer. In its quest to decarbonize energy-intensive industries through green power, Serentica has ambitious plans to massively scale up its RE capacities.

Kailash Tarachandani, group CEO of Inox Wind, said, “We are extremely pleased to establish our relationship with Serentica with this 60 MW equipment supply order. As India’s commercial & industrial (C&I) players accelerate their transition to green energy, we believe our tailored products and solutions for the wind projects will be one of the important catalysts driving this move. Serentica’s large-scale renewable project plans, combined with Inox Wind’s expertise in wind projects, make a perfect combination to take this mutually beneficial partnership to the next level going ahead.”

Akshay Hiranandani, CEO of Serentica Renewables, said, “At Serentica Renewables, we are committed to enabling the decarbonization of energy-intensive industries through innovative and sustainable solutions. Together, we aim to accelerate India's transition to a sustainable energy future while setting new benchmarks in renewable power generation.

Inox Wind is a wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. It is part of the INOXGFL Group, with a focus on chemicals and renewable energy. IWL is fully integrated in the wind energy market, with four manufacturing plants and a capacity of over 2 GW per annum.

Inox Wind reported a consolidated net profit (from continuing operations) of Rs 90.22 crore in Q2 FY25 as against a net loss of Rs 29.23 crore posted in Q2 FY24.Revenue from operations surged 97.56% year on year to Rs 732.24 crore in the quarter ended 30 September 2024.

The scrip declined 0.60% to currently trade at Rs 191.45 on the BSE.

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Inox Wind (IWL) has bagged a 60 MW order from Serentica Renewables (Serentica), a leading C&I focused renewable energy company in India. This order is for the supply of 3 MW class turbines to be delivered within H1 CY25.

Additionally, IWL will provide multi-year post commissioning operations & maintenance (O&M) services for these WTGs, which will be erected at the hybrid renewable energy project site being developed by Serentica in Karnataka. The power generated from this project will be supplied to Serentica's partners, including the Vedanta Group.

This milestone order for IWL opens up large future opportunities to partner with another marquee C&I customer. In its quest to decarbonize energy intensive industries through green power, Serentica has ambitious plans to massively scale up its RE capacities.

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INOXGFL Group announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters.

Aiming to be one of the fastest growing solar platforms in the country, Inox Solar is targeting an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026, at an outlined capex of Rs 1,500 crore. The company will also provide turnkey EPC solutions, including land acquisition & power evacuation, through its group company Inox Renewable Solutions (earlier known as Resco Global Wind Services). Additionally, it will offer post commissioning O&M services through another group company Inox Green Energy Services.

Inox Solar's first solar module manufacturing unit with initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025. The facility will manufacture TopCon modules.

Speaking on the momentous occasion, Devansh Jain, Executive Director of INOXGFL Group, said With Inox Solar, we proudly mark a new chapter in INOXGFL Group's journey, advancing India's renewable energy aspirations. This foray into solar energy complements our existing strengths, making us a fully integrated player in the energy transition ecosystem. Our vision is to deliver comprehensive renewable solutions, supported by world-class manufacturing capabilities and turnkey services. By targeting 5 GW of solar module and 2.5 GW solar cell capacity by 2026, we aim to drive energy independence and empower our stakeholders. Together, we are not just contributing to greening India but also redefining the benchmarks of excellence in the renewable sector.

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Inox Wind (IWL) has bagged an order for 87 MW from Continuum Green Energy (Continuum), a leading renewables C&I player. This repeat order from Continuum is for IWL's 3 MW Wind Turbine Generators (WTGs) and will be executed on an end-to-end turnkey basis.

Additionally, IWL will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed in the states of Gujarat and Rajasthan.

The addition of this order takes the total cumulative orders from Continuum to ~ 700 MW, and IWL's orderbook to >3.4 GW, the highest ever in its history.

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