Inox Wind bags repeat order from Continuum Green Energy for 87 MW

Inox Wind Ltd., the wind energy solutions provider, has informed the exchanges on Tuesday, November 12, that it has secured a repeat order for 87 MW from Continuum Green Energy, a renewable Commercial & Industrial (C&I) player.

The repeat order from Continuum is for Inox Wind's 3 MW Wind Turbine Generators (WTGs) and will be executed on an end-to-end turnkey basis.

Additionally, Inox Wind will provide post commissioning multi-year operations and maintenance (O&M) services. The said project won be the company will be executed across Gujarat and Rajasthan.

The addition of this order takes the total cumulative orders from Continuum to 700 MW, and Inox Wind's orderbook to over 3.4 GW, the highest ever in its history, the company said in a filing.

"While our orderbook is the highest ever, we are witnessing strong demand from customers across the spectrum as most developers are now working on hybrid / round-the-clock / FDRE solutions, comprising of a high proportion of wind capacity," said Kailash Tarachandani, Group CEO at Inox Wind Ltd.

Inox Wind has recently announced an upgrade in its margin guidance from 15% to 17%, driven by robust performance in the first half of the financial year.

"We have upgraded guidance because Q1 and Q2 have been fairly strong for us. Q3 and Q4 will kind of normalise that, but we have upgraded guidance from 15% to 17% with the caveat there could be further increases to this due to a couple of factors," Devansh Jain, Executive Director of InoxGFL Group had said.

Shares of Inox Wind ended 0.64% higher on Monday at ₹1,190.80. The stock has risen 22% so far this year but has gained over 224% in the last 12 months.