“Inox Wind… through its subsidiary arm, Inox Green Energy Services Ltd (IGESL) has sold the entire equity shareholding held in Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd… to Adani Green Energy Ltd,” it said in a BSE filing.
These special purpose vehicles (SPVs) “commissioned 50 MW each, out of the total 250 MW which it had successfully won under the Tranche 1 of Solar Energy Corporation of India Ltd‘s (SECI -1) bids for wind power projects at Dayapar, Gujarat connected on the central grid…,” it added.
IGESL shall provide long-term operations and maintenance services for these projects.
Inox Wind through its SPVs had supplied, erected and commissioned 25 units of its advanced 2 MW Wind Turbine Generators (WTGs) as part of 50 MW project each.
Inox Wind had won 250 MW in SECI Tranche 1 auction at a fixed tariff of Rs 3.46 per unit for 25 years for sale to PTC India.
In a separate filing, it said IGESL has sold its entire 100 per cent shareholding in the three firms (projects) for a cash consideration of Rs 1 lakh each.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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