Inox Wind Bags 50 MW Order From Mining Company In India

8 years ago smiti
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

A minerals and lignite mining company in India is looking to develop a wind energy project and has placed an order with one of the rapidly emerging wind energy solutions providers, Inox Wind.

Gujarat Mineral Development Corporation (GMDC) will set up 50 MW wind energy project in the western state of Gujarat. The company has placed an order with Inox Wind, one of the only two wind energy companies listed on the Indian bourses.

The project will include 25 units of 2 MW, 100 meter rotor diameter, wind turbines. The project would be part of the 400 MW wind farm planned by Inox Wind in Gujarat. Inox Wind is reportedly planning to set up several of such large-scale wind farms across the country.

Inox Wind – Grand Expansion Expected

Inox Wind raised $165 million through its initial public offering earlier this year and is expected to use these funds to expand generation and manufacturing capacity. At this year’s renewable energy international investors summit organized by the Ministry of New & Renewable Energy, the company pledged to manufacture 5 GW worth of wind turbines over the next 5-7 years. The company also announced investments worth $750 million for the development of 700 MW capacity in Gujarat.

Inox Wind is highly optimistic about the favorable regulatory environment with regards to the renewable energy sector. The company already has a project pipeline of 1.4 GW and expects incremental orders of 1-1.5 GW capacity every year.

Inox Wind Director Devansh Jain had earlier stated that several government measures have started to reap results. Regulatory requirements like corporate social responsibility (CSR) and renewable purchase obligation (RPO) are forcing companies to invest in renewable energy. Government-backed financial companies like Power Finance Corporation Limited (PFC), Rural Electrification Corporation (REC), and the India Renewable Energy Development Agency (IREDA) are now much more willing to provide low-cost debt financing to the development of projects.

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Our Latest EVObsession Video

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
 
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
 
Thank you!
Advertisement
 
CleanTechnica uses affiliate links. See our policy here.

4 thoughts on “Inox Wind Bags 50 MW Order From Mining Company In India”

  • There is a method how you can get paid $fifty five /h… After being unemployed for half a year , I started making cash over this internet-site and now I possibly could not be more satisfied. 3 months have passed since being on my new job and my income is around five-thousand dollars/month -Check internet-site i mentioned by following link on MY___-_PROFILE__

  • Marvel Boehm
    October 5, 2015 at 6:43 am
    Permalink

    last week I bought a brand new McLaren F1 after making $19427 this-past/4 weeks and-over, 18-k this past-munth . this is actually the coolest work I have ever had . I began this 3 months ago and straight away started making a cool at least $97 per-hour . Learn More At
    .pp…
    >➤➤➤➤➤➤ http://www.GooglesMoney11.Tk

    !!#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#=#!!.

Comments are closed.