Inox Wind MoU adds 1.5 GW, order book tops 4.5 GW

Deal announced: 1,500 MW supply to Inox Clean

Inox Wind Limited (IWL) said it has signed a Memorandum of Understanding (MoU) with Inox Clean Energy to supply 1,500 MW of wind turbine generators. The supply is intended for renewable energy projects being developed by Inox Clean across India. The company indicated that deliveries will be phased in line with the pace of project development.

The proposed supply will include Inox Wind’s 3.3 MW and 4X MW wind turbine models. The announcement positions the arrangement as a capacity tie-up that links Inox Wind’s manufacturing and supply capabilities with Inox Clean’s project pipeline.

What Inox Wind will supply under the MoU

Under the MoU, IWL will provide wind turbine generators in two platforms: 3.3 MW and 4X MW. The agreement is described as an initial pact, and the company’s statement emphasised that supply timing will follow the execution schedule of Inox Clean’s renewable projects.

The focus on specific turbine ratings matters because it signals what kind of equipment mix could be used in upcoming projects. The company did not disclose project-wise locations, timelines, or pricing details in the information provided.

Order book impact: from 3.1 GW to above 4.5 GW

Inox Wind’s CEO Sanjeev Agarwal said the company had a robust order book of 3.1 GW before the MoU. He added that with the new MoU, the order book crosses 4.5 GW, which he said covers the company for the next few years.

The update is significant because it links the MoU to a measurable change in backlog. In the information provided, the post-deal order book is described as “over 4.5 GW”, and one reference also describes it as reaching 4.6 GW.

Why Inox Clean signed the pact

Bharat Saxena, CEO of Inox Clean Energy, said the partnership is expected to support faster project execution, provide greater supply chain certainty, and improve capital efficiency. The statement connects equipment availability with execution speed, a theme that has become more important for renewable developers as project pipelines scale.

Inox Clean is targeting an operational renewable portfolio of 14 GW by FY29. The MoU is positioned as part of the platform build-out supporting that longer-term target.

The ‘One Integrated’ renewable strategy angle

The information provided also links the agreement to the INOXGFL Group’s ‘One Integrated’ renewable strategy. The stated objective is to combine manufacturing, EPC, IPP, and O&M services across group entities to improve execution and revenue generation.

While the MoU is between group companies, it still adds to Inox Wind’s disclosed order book and ties future turbine supply to a growing in-house development platform.

Manufacturing capacity context

One of the details referenced alongside the MoU is Inox Wind’s manufacturing capacity of about 2.5 GW per year, backed by ISO certifications. Capacity matters because a larger order book only converts into revenue if production and delivery can be executed on schedule.

The company did not provide a revised capacity number or a fresh capex plan in the information shared, but the capacity figure offers context on the scale of deliveries implied by a 1.5 GW supply arrangement.

Recent execution update: the 990 MW turnkey order

Separately, the information provided notes that Inox Wind said execution was well underway for a 990 MW turnkey order, described as part of a broader 1,500 MW framework agreement. The company stated this work is spread across sites in Gujarat, Rajasthan, and Madhya Pradesh, and that it had received all advance payments.

Commissioning for that turnkey project was stated to begin in FY26 in phases. The order is attributed to Purvah Green Private Limited, described as a subsidiary of CESC Ltd, and was described as the largest wind order by an independent power producer awarded to any wind OEM in India.

Market reaction mentioned in the update

One market snapshot included in the information provided said shares of Inox Wind rose as much as 6.2% to 172.87 rupees on Monday, April 21. That move was linked to the company’s update that commissioning of the 990 MW portion is expected from FY26 onwards in phases.

This market reaction is separate from the Inox Clean MoU announcement but provides context on how execution milestones and commissioning timelines have been tracked by investors.

Key facts table

Why the MoU matters for investors

The immediate takeaway is the stated jump in Inox Wind’s order book from 3.1 GW to above 4.5 GW following the MoU. That expands multi-year visibility, as indicated by the company’s CEO, and ties a large portion of potential execution to a related renewable platform that is scaling.

For Inox Clean, the stated benefits focus on execution speed and supply chain certainty, which become more relevant as developers attempt to build capacity at scale. For the wider sector, the announcement is another data point showing how renewable groups are tightening coordination between equipment supply and project development.

Conclusion

Inox Wind’s MoU with Inox Clean Energy covers a 1,500 MW turbine supply pipeline using the 3.3 MW and 4X MW platforms, with deliveries planned in phases as projects develop across India. The company said the pact takes its order book from 3.1 GW to above 4.5 GW, while Inox Clean reiterated its 14 GW operational portfolio target by FY29. Next updates to watch will be project-wise execution schedules and phased deliveries as Inox Clean’s renewable projects progress.