Our new integrated manufacturing facility at Barwani, Madhya Pradesh is in close proximity to projects in Madhya Pradesh and Rajasthan. Assistant Manager. His company, Inox Wind, the renewable wind energy solutions provider, raised Rs 1,000 crore and was oversubscribed 18 times. In addition, based on our operating and financial performance, we believe that our cost structure is among the most competitive in the wind turbine manufacturing industry. Once the third unit in Madhya Pradesh starts operations, Inox's annual capacity will be 1,600 MW. “We have a market cap of almost a billion-and-a-half dollars,” says Devansh, who, as director of his company, is the youngest family member to hold a position in the chemicals-to-multiplexes Inox Group.When he returned to India from the US in 2007, he shadowed his father Vivek (managing director, Gujarat Fluorochemicals Limited) for two years before deciding to enter the renewable energy sector. Pune, Maharashtra, India. The Inox Group, which includes two publicly-listed companies, namely Gujarat Fluorochemicals Limited, or GFL, and Inox Leisure Limited, is a market leader in various industries in India. It has a robust order book of 1,220 MW as on June 2015, with turnkey projects contributing 60 per cent and equipment supply orders making the rest. Because nacelles and hubs are more easily transported than rotor blade sets and towers, we currently manufacture nacelles and hubs at our Una Unit in Himachal Pradesh, in order to benefit from certain tax incentives. A strong current order book of 1,200 megawatts (MW) and investor confidence place Inox Wind, and Devansh, in a sweet spot. Ever since the NDA came to power at the Centre, it has emphasised on reducing the dependency on conventional sources of energy and, instead, has worked towards increasing output of renewable power. Our promoter, Gujarat Fluorochemicals Limited, or GFL, has been a pioneer of carbon credits in India and has been among the largest generators of carbon credits globally.
“It will be one of Asia’s largest blade plant in terms of size and production capacity. His company, Inox Wind, the renewable wind energy solutions provider, raised Rs 1,000 crore and was oversubscribed 18 times. Based on detailed wind resource assessment, a significant land bank has also been acquired by the company. We have a perpetual license from AMSC, a leading wind energy technology company based in Austria, to manufacture 2 MW WTGs in India based on AMSC’s proprietary technology. Inox Wind is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants near Ahmedabad (Gujarat) for blades & tubular towers and at Una (Himachal Pradesh) for hubs & nacelles. Its revenues have grown at a staggering CAGR of 60.35 per cent over the past two years from Rs 1,005 crore in 2012/13 to Rs 2, 558 crore in 2014/15, while net profits have nearly doubled from Rs 148 crore in 2012/13 to Rs 332 crore in 2014/15. A strong current order book of 1,200 megawatts (MW) and investor confidence place Inox Wind, and Devansh, in a sweet spot. “I think Inox Wind has reached a stage where it is very strong and the management team is rock solid. Working with Inox wind Infrastructure Services Ltd, as a HSE In charge for Project and OMS . Government polytechnic karad. “Some people may say, ‘You are born with a silver spoon, but it is very easy to lose it all in the third generation,” he says.One of the biggest challenges he faced was an unanticipated policy shift: In 2012, barely three years after Inox Wind was set up, the then Congress government withdrew key benefits, including a generation-based incentive.“Renewables is something that is driven by policy and political intent. It has sufficient land bank for the installation of an aggregate capacity of more than 4,500 MW," says Devansh Jain, Director, Inox Wind. Our senior management has extensive experience in the quality, engineering, supply chain management, manufacturing, marketing, project development and maintenance of WTGs. Neither his father nor his uncle Pavan (chairman and managing director of Inox Air Products) had prior experience in this sector. Our Company, together with our wholly-owned subsidiaries, IWISL and MSEIL, provides turnkey solutions for wind farm projects.
No one can accuse Devansh Jain of false pride. AMSC’s state-of-the-art wind turbine designs range from offerings of 1.65 MW to 10 MW and more than 15,000 MW of installed capacity has been operating globally for multiple years based on AMSC’s designs. A 2015 Motilal Oswal report on the company notes that its “strong relationship with independent power producers (IPPs) and global technology leaders, coupled with a ready pipeline of project sites and strategically located manufacturing units, have enabled it to benefit from the wind market revival”.Devansh is excited about the future given the present government’s focus on renewable energy. Our license in India is exclusive, subject to three existing licenses that AMSC had previously granted for the production and sale of 2 MW WTGs worldwide, including in India. It is also focusing on increasing land bank across wind-rich states.Founded in 2009, Inox has already made significant strides in recent years.