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Inox Wind targets 500 MW capacity in FY14

According to reports, Inox Wind, an arm of the $2 billion Inox group, which has diverse interests in industrial gases, engineering plastics, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment, is looking at a 500 MW wind power generation capacity and a topline revenue of nearly Rs 3000 crore in the current fiscal. One of top four wind turbine manufacturers in the country notched up a topline of close to Rs 1,200 crore in the last financial year, Devansh Jain, director, Inox Wind, told FC on Friday.

The group also has a independent power producer (IPP) arm in wind power sector, whose current generation capacity is 250 MW and the company has plans to go on adding 100-150 MW every year, he said.

“We are awaiting the union cabinet nod for generation based incentive (GBI), a move that will accelerate the implementation of projects. And we expect this to come through over the next two weeks or so. Mind you, India has already set a target of 30 GW (30,000 MW) of wind power generation within the 12th plan period. Therefore the potential to grow in this area is enormous,” said Jain.

Jain said normally states like Gujarat, Rajasthan, Andhra Pradesh, Maharashtra are conducive for putting up wind power projects. It is also bullish about the fact that a number of steel, cement, chemical and other firms are also increasingly opting for wind power for their captive use, said Jain.

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