Inox Wind (IWL), a prominent player in the Indian wind energy sector, has secured another order from Continuum Green Energy.

What Happened: The Suzlon peer has bagged a repeat turnkey 87-megawatt order for its 3-megawatt wind turbine generators (WTGs) from Continuum Green Energy. The project, slated for execution in Gujarat and Rajasthan, also includes post-commissioning multi-year operations and maintenance services.

This order takes IWL’s total cumulative orders from Continuum to about 700 megawatts and its overall order book to over 3.4 gigawatts — a record high in the company’s history.

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Inox Wind, a part of the INOXGFL Group, is a leading provider of wind energy solutions in India, with four manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. The company offers comprehensive wind energy solutions, from concept to commissioning, and manufactures key components of WTGs in-house.

In September, the company received a letter of Intent (LoI) from IGREL Renewables to execute a 550-megawatt wind capacity project on a turnkey basis, spanning multiple sites in Gujarat, Rajasthan, and Madhya Pradesh.

In October, the company’s shareholding saw a slight dip in mutual fund stakes, however, foreign institutional investors (FIIs) increased their stake in the company. The same month, IWL reported a 98% surge in its Q2 revenue, with its order book reaching an all-time high.

Price Action: Shares of Inox Wind were trading flat at ₹205.28 on Tuesday morning.

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