Inox Wind Limited, which manufacturers wind turbines and constructs wind power farms, said it intends to put up a 250 MW wind farm in Kutch in Gujarat in the next 12 months and will continue to bid aggressively in upcoming auctions.
Inox Wind had won the project as part of the second round of bidding conducted by the Solar Energy Corporation of India.
It won the bid this week by quoting a fixed price of Rs.2.65/unit for 25 years, the lowest such tariff in India.
It had won a 300 MW order win from the SEC-1 auction held earlier in the year, taking the total to 550 MW.
The company said it plans to bid for more such projects, develop them and then sell them to power producers.
“We aim to continue on our stated business Strategy to participate in wind power auctions to win confirmed order book and then down sell the order win to independent Power Producers (PPS) since it is not our intention to become wind power asset owners,” it said.
It will develop, construct and commission the projects, and also provide long term operations and maintenance services even after they are sold.
“Inox Wind would be a major beneficiary in the auction based market regime, due to its inherent Cost-competitive advantage which allows us to execute these projects on a profitable basis,” said Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited.
“We would continue to build our order book and gain Significant market Share in the auction regime on back of future SEC & State auctions. We will begin a new phase of robust growth for the wind industry Critical for reaching the 60 GW wind power Capacity goal by 2022 for the Country.”
More SEC and state auctions are likely to take place in the coming months and this would increase the company’s business, it said.
“Our inherent low cost structure makes us one of the lowest cost producers of wind turbines globally and ideally places us in a position to capture significant market share under the auction regime,” it said.
It also said that it could end up developing more farms if other winners choose it as their implementation partner.
The company has three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.
The plant near Ahmedabad (Gujarat) manufactures blades & towers while hubs and nacelles are manufactured at the company’s facility at Una (Himachal Pradesh).
The newer facility at Barwani (Madhya Pradesh) manufactures blades, towers and nacelles and hubs as well.
The facility at Madhya Pradesh, which is amongst the largest in the world, has doubled inox Wind’s manufacturing capacity to 1,600 MW per year.
It said it will use it 2 MW Wind Turbine Generators of 120 meter height & 113 m diameter for the Kutch project.
“The 113m rotor diameter WTG has one of the highest Swept areas that make it ideally Suited to maximise returns, even in low wind areas,” it said.
“Inox Wind’s Kutch site would become one of the largest wind farms in India post execution of capacities expected to be won in future rounds of SEC & State auctions,” it said.