Inox Wind Limited has signed a memorandum of understanding with Inox Clean Energy to supply 1,500 MW of wind turbines. According to the latest regulatory filing submitted to the National Stock Exchange of India (NSE), the MoU covers the supply of Inox Wind's advanced 3.3 MW and 4X MW wind turbines for renewable energy projects being developed by Inox Clean across India. This partnership is part of the elaborate interplay within the INOXGFL Group entities, designed to aid execution and revenue generation while creating a virtuous cycle of collaboration among group companies.
Inox Wind shares jumped 1.81% to touch ₹91.49 following the MoU announcement on Tuesday, June 16. The stock has shown positive momentum with shares rising 1.81% in recent trading, demonstrating investor confidence in the strategic partnership. However, the stock has faced significant pressure over longer periods, with shares falling 25.5% from the beginning of the year, 28% over six months, and over 3% in the past month. The company maintains a market capitalization of ₹15,796.09 crore according to NSE data, with shares having touched their one-year high of ₹187.02 on June 11, 2025, and hitting a 52-week low of ₹75.05 on March 30, 2026.
The MoU aligns with the Group's recently launched transformative 'One Integrated' renewable strategy. As reported by Business Standard, this strategy aims to create a fully integrated renewable energy ecosystem spanning manufacturing, EPC, IPP and O&M services. The integrated approach combines the strengths of Inox Clean Energy, Inox Renewable Solutions (IRSL), Inox Green Energy Services and Inox Wind to create a scalable renewable energy powerhouse with enhanced execution capabilities, stronger recurring revenue streams and long-term growth visibility.
Inox Clean Energy, the Group's renewable IPP and solar cell & module manufacturing business, is rapidly emerging as one of the leading renewable platforms globally. According to Business Standard, the company has become one of the fastest renewable energy companies to achieve an operational portfolio of approximately 3.5 GW within the first two years of operations and plans to add over 3 GW of renewable capacity annually going forward. Inox Clean is targeting an operational renewable portfolio of 14 GW by FY29.
The partnership is expected to significantly boost Inox Wind's order book, with the company's order book crossing 4.5 GW following this MoU. As reported by Business Standard, approximately 20%-30% of these annual additions are expected to be wind projects, translating into multi-year recurring order visibility for Inox Wind and creating a strong foundation for sustained growth. Inox Wind CEO Sanjeev Agarwal confirmed that the company has a robust order book of 3.1 GW, with this new MoU providing additional coverage for the next few years. This large order volume from group companies will help secure growth and insulate the business from market cycles, supporting the company's long-term strategic objectives.
Inox Clean Energy CEO Bharat Saxena emphasized the strategic advantage of the partnership, stating that "this MoU represents a significant milestone in the execution of the INOXGFL Group's 'One Integrated' renewable strategy. As Inox Clean accelerates towards its target of building a 14 GW renewable energy portfolio by FY29, having access to world-class wind manufacturing, execution, and O&M capabilities within the group provides us with a distinct competitive advantage. The partnership with Inox Wind will enable faster project execution, greater supply chain certainty and improved capital efficiency as we continue to scale one of India's fastest-growing renewable energy platforms." Inox Wind CEO Sanjeev Agarwal added that "We are delighted to have signed this MoU with Inox Clean for the supply of 1,500 MW of advanced wind turbines. Inox Clean has ambitious plans to develop and deliver long-term clean energy solutions to its customers, and we are pleased to be a key partner in the Group's mission to accelerate India's energy transition, while also benefiting from a steady multi-year order inflow."
