Inox Green Energy IPO — Growth Hinges On Wind Sector Revival: ICICI Direct

ICICI Direct's IPO Report

Inox Green Energy Services Ltd. was incorporated on May 11, 2012. Subsidiary of Inox Wind Ltd., Inox Green Energy is one of the major wind power operation and maintenance service providers within India.

The company provides exclusive operations and maintenance services for all wind turbine generators sold by Inox Wind through the entry of long-term operations and maintenance contracts between the wind turbine generator purchaser and themselves for terms, which typically range between five and 20 years.

As of June 30, 2022, Inox Wind had entered into binding contracts for the supply of two mega watt capacity wind turbine generators with an aggregate capacity of 964 mega watt.

Further, Inox Wind had also received letters of intent, which are non-binding and which, therefore, may not lead to execution of any form of binding contract, for its new 3.3 mega watt capacity WTGs with aggregate capacity of 524.7 mega watt.

As of June 30, 2022, its operations and maintenance services portfolio consisted of an aggregate 2,792 mega watt of wind farm capacity and 1,396 wind turbine generators.

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