Udaipur, 16 June, 2014: Inox Wind Limited, a subsidiary of Gujarat Fluorochemicals Limited, one of India’s leading wind power solutions provider, has been awarded a 170MW order from Continuum Wind Energy, a Singapore based company, indirectly majority owned by Morgan Stanley Infrastructure Partners. The project is to be constructed in and around Ratlam and Mandsaur districts of Madhya Pradesh and it is one of the largest wind turbine orders in India for a single project.
The order, valued in excess of Rs 900 cr, is for 85 units of Inox Wind’s newly launched 2MW wind turbine with 100 meter rotor diameter, a variant of its well established 2MW wind turbine platform. Inox shall also carry out the erection & commissioning as well as the operations & maintenance of the project.
Speaking on the occasion, Mr. Kailash Tarachandani, CEO of Inox Wind Limited said, “This is a landmark order that underscores our competitive positioning across the highly competitive and growing Indian wind market. With a focus on technology and customer centricity, we have launched this new product for our clients who can achieve optimum energy yield with lower wind speeds”.
Commenting on the order, Mr. Arvind Bansal, CEO & Director, Continuum Wind Energy, said: “In pursuit of our strategy of creating efficient, large scale, world class wind farms in India, we are excited to partner with Inox given their technology generates more energy in low speed winds. We believe that the successful implementation of such projects will not only result in a cleaner energy base for India but also will help to empower the rural communities of Madhya Pradesh”.
“We are happy to partner with Continuum Wind Energy in their ambitious plan to be one of India’s leading renewable IPPs. Inox’s 100 meter rotor diameter turbine is expected to be a game changer in the wind industry in India. We continue to leverage our strong competitive positioning to emerge as the leading wind solutions provider in India”, said Mr. Devansh Jain, Director, Inox Wind Limited.
“We are excited to support and strengthen our close partnership with Continuum Wind Energy, which is pursuing a differentiated strategy of building and owning large scale, efficient wind farms in India,” Said Chris Koski, Managing Director and head of Investment Strategy, Morgan Stanley Infrastructure Partners.
About Continuum Wind Energy
Continuum Wind Energy was founded in 2009 by a group of professionals turned entrepreneurs, who worked at India’s leading companies for close to two decades after being educated at India’s foremost institutions. Continuum Wind Energy follows a philosophy of self-development of environmentally-friendly, high yielding wind farms after diligent study of the wind resource, careful planning of construction program in conjunction with the local population and obtaining a fully-committed, conservative financing structure.
Singapore-based Continuum Wind Energy is indirectly majority owned by Morgan Stanley Infrastructure Partners, a leading infrastructure investment platform that focuses on long-term investments in infrastructure assets associated with providing essential public goods and services to societies across the globe. For further information about Morgan Stanley Infrastructure Partners, please visit www.morganstanley.com/infrastructure and for additional information about Continuum Wind Energy and its plans, please visit Continuum Wind Energy at www.continuumenergy.in
About Inox Wind Limited
Inox Wind Limited, is a part of the over $ 2 billion Inox Group, which is involved in diverse businesses including industrial gases, refrigerants, chemicals, engineering plastics, cryogenic engineering, renewable energy and entertainment.
Inox Wind is one of India’s leading wind power solutions provider with manufacturing plants, in Gujarat and Himachal Pradesh. Inox Wind offers a broad range of services to its customers. This includes providing turnkey solutions by manufacturing and supplying wind turbine generators and offering a variety of services including wind resource assessment, site acquisition, project development, erection and commissioning, and also providing long term operations and maintenance of wind power projects.
Presently Inox Wind is implementing projects across Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and Andhra Pradesh.