Green Infra, the renewable energy wing of IDFC PE Fund, has awarded 166 MW of turbine supply contract to Inox Wind for various projects in Gujarat, Madhya Pradesh and Rajasthan.
Inox Wind, a subsidiary of Gujarat Fluorochemicals, will develop and construct the projects on a turnkey basis, supply 83 units of 2 mw wind turbine generators and undertake long-term operations and maintenance.
The projects are likely to be commissioned in phases by December.
However, the total value of the order is not yet disclosed.
For the above mentioned states, their respective government has restored tax benefits recently with an aim to promote clean energy.
Besides, INOX Wind has plans to establish a single location integrated wind turbine manufacturing facility in Barwani district of Madhya Pradesh.
The plant will be set up with an investment of over Rs 300 crore.
Inox Wind is a fully integrated player in the wind energy market with blades and towers manufacturing plants near Ahmedabad and hubs and nacelles plant at Himachal Pradesh.
INOX plans to set up 2500-3000 MW in next two years.
India is experiencing enhanced investments in renewable energy sector, with more and more domestic as well as international companies showing interest to set up wind farms in India.
According to experts, capacity addition in wind energy is to increase 10 percent to 2,200-2,300 mw during the current financial year.
India plans to more than double the share of renewables in its energy mix by the end of this decade from 6 percent at present.
The RE-INVEST expo which will commence from February 15 in New Delhi will be the first Renewable Energy Global Investors Meet & Expo to be organized by the MNRE with an objective to showcase the commitment to the enhancement of renewable energy in India.
In addition, recent Obama visit to India also has evoked new hopes for renewable energy activities in India.