Inox Wind surges 5%

Inox Wind announced today morning that it has signed definitive agreements with Continuum Power Trading (TN) Private Limited, part of Continuum Wind Energy group.

This is to supply, erect and commission 250 MW of wind power projects (in two phases of 126 MW and 124 MW) comprising of a mix of 2 MW (113 metre rotor diameter turbine combined with 92 metre hub height) and 3 MW (145 metre rotor diameter turbine combined with 120 metre hub height) turbines.

Post receipt of certain advances, Inox Wind has started execution of the first phase of the project comprising of 126 MW which is scheduled to be commissioned by Q3 of FY 2021 at Dayapar, District Bhuj in the State of Gujarat on a turnkey basis.

As part of the turnkey order, Inox Wind will provide Continuum Power with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.

The stock opened today with a gain of 5% at Rs.25.30, briefly touching its UC, which was also its intraday high. It is currently trading at Rs.25 levels.