Inox Neo Energies secures 50 MW in first-ever wind power project auction

Inox Neo Energies on Thursday said it has secured 50 MW in its first-ever wind power project auction.

The company had participated in the Gujarat Urja Vikas Nigam Limited (GUVNL) Wind Phase-IX auction, aimed at developing 250 MW of grid-connected wind power projects across Gujarat, a company statement said.

Inox Neo Energies Ltd is a subsidiary of Inox Clean Energy Ltd and the renewable energy Independent Power Producer arm of the INOXGFL Group.

Inox Neo Energies Ltd was awarded 50 MW out of its quoted 100 MW at a discovered tariff of Rs 3.66/kWh.

This win marks the beginning of a new chapter in the journey of Inox Neo Energies Ltd, in its endeavour to be one of the prominent players in India's green energy transition, it stated.

"Securing our first project demonstrates the potential and preparedness of Inox Neo Energies Ltd to contribute to India's renewable energy landscape. We are committed to building a cleaner, greener future, and this 50 MW marks a beginning to a transformative journey," Kailash Tarachandani, Group CEO Renewables Business, INOXGFL Group, said.

With this strategic win, Inox Neo Energies can accelerate its growth trajectory and contribute to India's renewable energy goals.