INOX is a family owned, professionally managed business group, with interests in diverse businesses including Industrial Gases, Refrigerants, Chemicals, Carbon Credits, Cryogenic Engineering, Renewable Energy and Entertainment. Inox Wind Limited (IWL), part of India’s Inox Group of Companies, manufactures 2 megawatt (MW) doubly-fed induction wind turbines under a global AMSC Windtec™ license.
Inox Wind Limited (IWL) currently has the ability to manufacture 400 of its 2 MW wind turbines annually at its facility in Una (Himachal Pradesh) India.
The company had recently placed a $9 Million follow-on order for Wind Turbine Electrical Control Systems with American Superconductor Corporation (AMSC).
According to reports, Inox Renewable Ltd. the company in the Inox Group focused on developing renewable energy projects has plans to buy the 65MW wind energy business of the parent company.
In that regard,Gujarat Fluorochemicals Ltd has informed the stock exchanges that, the board has decided, subject to approval of the Members of the Company through Postal Ballot, to transfer, by way of slump sale, on as-is-where-is basis, the existing wind energy business of the Company to Inox Renewables Limited, a subsidiary of this Company, at a value based on the tax written down value of the wind energy business as on the actual date of the transfer in the books of account of the Company.