17
Mon, Dec

Inox Wind wins 100MW in the SECI-4 auction

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Inox Wind, one of India's leading wind energy solution providers, has won 100MW in the SECI-4 auction maintaining its successful track record in central government auctions. The bid was won at a fixed price of Rs2.51/unit for 25 years. This win enhances our auction based order book to a sector leading 950MW.Inox Wind, one of India's leading wind energy solution providers, has won 100MW in the SECI-4 auction maintaining its successful track record in central government auctions. The bid was won at a fixed price of Rs2.51/unit for 25 years. This win enhances our auction based order book to a sector leading 950MW.

Inox wind would be developing the SECI-4 project in the Kutch region in the state of Gujarat. The project would be executed over the next 12-18 months. Inox Wind will supply, erect and commission its advanced 2MW Wind Turbine Generators and will be responsible for the development, construction, commissioning and long term operations and maintenance services for the project.

The government has auctioned 7.5GW of wind power projects over the past year with 6GW of SECI auctions and 1.5GW of state auctions. The Honourable Power Minister had outlined their target of achieving 10GW of wind power auctions in FY19 and FY20 each. Our inherent low cost structure makes us one of the lowest cost producers of wind turbines globally. Our order book can be higher from the SECI-4 auction if we are selected by other winning IPPs as a WTG provider for their bids. We remain committed to execute these projects on a profitable basis meeting our company targets.

Mr. Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited said, "The government's auction pipeline of 10GW each in FY19 and FY20 would lead to strong and sustainable growth for the Indian wind sector. Inox Wind is strongly placed in this auction regime with a sector leading order book of 950MW. We have begun FY19 in full earnest and look forward to the year being a turnaround year for the Indian wind sector."