Adani enters wind energy segment with Inox order1 min read . Updated: 12 Apr 2016, 06:53 PM IST
Adani Green Energy has placed two orders for a 50 MW turnkey project in Andhra Pradesh's Anantpur district and a 20 MW turnkey project at Inox's Lahori site in Madhya Pradesh
Ahmedabad: Inox Wind Ltd on Tuesday said it has won orders for wind turbine generators from Adani Enterprises Ltd, marking the latter’s entry into the wind energy business.
Adani Green Energy, a wholly owned subsidiary of Ahmedabad-based Adani Enterprises, has placed two orders for a combined capacity of 70 megawatts (MW)—a 50 MW turnkey project in Andhra Pradesh’s Anantpur district and a 20 MW turnkey project at Inox’s Lahori site in Madhya Pradesh, Inox Wind said in a statement.
Noida-based Inox Wind did not disclose the value of the orders.
“We are delighted to partner with Adani in their endeavour to become leaders in renewable power technologies and in our joint commitment towards providing clean and green energy in India," Kailash Tarachandani, chief executive officer of Inox Wind, said in the statement.
Inox Wind is a part of the $2-billion Inox Group with diverse business interests, including industrial gases, refrigerants, cryogenic engineering, renewable energy and entertainment.
An Adani spokesperson confirmed the orders with Inox Wind but declined to provide further details.
Shares of Adani Enterprises fell 1.19% on Tuesday to close at ₹ 79.05 each on the BSE, while the Inox Wind stock gained 3.38% to ₹ 252.35. The Narendra Modi-led government has set a target of generating 60,000 MW in wind power capacity by 2022.