Shares of Inox Wind were trading in the green and 2% higher on 9 January after the company announced receiving a wind power project.

In its regulatory filing, the company said that they have received a letter of intent for executing a 50 megawatt ISTS connected wind power project from NLC India Limited on a turnkey basis.

As a part of the project, the company will supply, install, and commission its DF 113/92 wind turbine generator that has a rated capacity of 2.0 megawatt, and will further provide comprehensive operations and maintenance service for a period of 10 years post commissioning. The project will be executed at the mega Dayapar site in Kutch district of Gujarat.

Kailash Tarachandani, CEO of Inox Wind, said, “This project from NLC India reinforces Inox Wind’s strong credentials as a comprehensive wind energy solutions provider in the Indian market. Our robust relationships across PSUs, IPPs, C&I and retail customers, as well as our varied product and service offerings with plug-and-play turnkey solutions, place us at a unique position to deliver value for our customers.”

Tarachandani added that as India is moving towards achieving its renewable energy capacity targets, the company continues to play a significant role and stands at a formidable position to deliver significant growth and profitability.

At 3:30 pm, the shares of Inox Wind shed all their early gains and closed 3.56% lower at Rs 478 on NSE.