INOXWIND

** Shares of wind energy company Inox Wind INWN.NS rise 8.3% to 165 rupees

** Co wins a 153 megawatt (MW) order to supply 3 MW class turbines for a Tamil Nadu-based project

** Co did not disclose who the order is from or the financial details

** Stock marks busiest day in over three weeks, with more than 13.2 mln shares traded

** With session's gains, stock trims YTD loss to 8%

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

March 4 (Reuters) - Marsons Ltd MARS.BO:

• RECEIVES ORDER WORTH ABOUT 94.9 MILLION RUPEES FROM INOX WIND

Source text: ID:nBSE8X5rkK

Further company coverage: MARS.BO

(([email protected];;))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Dec 24 (Reuters Breakingviews) - Dealmaking is coming for India’s renewable energy industry in 2025. More than a dozen generators of wind and solar power are looking for new owners as private equity-style firms like Brookfield Asset Management, as well as industry players like Siemens and Enel, look for an exit. Despite New Delhi’s target of renewables providing half the country’s electricity by 2030, success isn’t assured.

Hitting that goal will require around $200 billion of investment, analysts at Nomura reckon. But companies are getting finicky about deploying capital in a market where tariffs for solar power – the single largest subcategory – have moved in a narrow range since 2019.

Sellers may be overly optimistic on valuations, too. Investment fund owners like Brookfield, GIC and Macquarie spent much of 2024 scouting for and haggling with prospective buyers. India’s Inox Wind hinted on an earnings call in October that the Siemens Gamesa wind assets it took a look at were overpriced.

Some deals are set for completion after months of wrangling. A unit of Malaysia’s Petronas has agreed to buy part of Brookfield’s portfolio for $900 million, the Economic Times reported in November. Other potential buyers include JSW Energy’s JSWE.NS renewables unit and Singapore’s Sembcorp. Perhaps the biggest test will be what happens to GIC’s 50% stake in Greenko, which has 7.5 gigawatts of net installed capacity; Bloomberg reported in October that the Singapore sovereign wealth fund was considering selling part or all of its holdings.

Those who cannot secure an industry sale do have another option: an initial public offering. Public markets in India are now seen as mature enough to buy into companies in emerging sectors with earnings some way off. That’s a far cry from 2021 when ReNew Energy RNW.O, the country’s second-largest green power producer by capacity, went public on Nasdaq by merging with a blank-cheque company.

State-owned NTPC Green Energy’s NTPG.NS strong public market debut in late 2024 will buoy sentiment. A listing may work best for companies that have scaled up to a couple of gigawatts, such as Brookfield-backed CleanMax, and Hero Future Energies, whose sponsors include KKR KKR.N. It could be harder for firms with smaller amounts of installed capacity and less or no cash flow.

The coming shakeout in Indian renewables will reveal whose capital New Delhi might be able to rely on as its 2030 goal looms.

Follow @ShritamaBose on X

This is a Reuters Breakingviews prediction for 2025. To read more of our predictions, click here.

(Editing by Antony Currie and Oliver Taslic)

((For previous columns by the author, Reuters customers can click on BOSE/
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Dec 18 (Reuters) - Inox Wind Ltd INWN.NS:

• BAGS 60 MW ORDER FROM SERENTICA RENEWABLES

• ORDER FOR SUPPLY OF 3 MW CLASS TURBINES BY H1 CY25

Source text: ID:nNSE4R2fCj

Further company coverage: INWN.NS

(([email protected];))

Dec 11 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND LTD - INOXGFL GROUP ANNOUNCES MEGA FORAY INTO SOLAR

• INOX WIND LTD - TARGETING 5 GW SOLAR MODULES, 2.5 GW SOLAR CELLS BY 2026

• INOX WIND LTD - FIRST SOLAR MODULE UNIT IN GUJARAT OPERATIONAL BY MARCH 2025

• INOX WIND - TARGET 5 GW SOLAR MODULES, 2.5 GW SOLAR CELLS WITH OUTLINED CAPEX OF 15 BILLION RUPEES

Source text: ID:nBSE3Rjh3T

Further company coverage: INWN.NS

(([email protected];;))

** Suzlon Energy SUZL.NS rises as much as 4.7% to 68.45 rupees

** Wind energy equipment maker wins 302.4 MW wind power project from JSP Green Wind 1, a subsidiary of Jindal Renewables, to supply 96 wind turbine generators of 3.15 MW each

** Stock rated "buy" on avg; median PT is 80 rupees - LSEG

** Peers Inox Wind INWN.NS and JSW Energy JSWE.NS also rated "buy"

** SUZL up ~78% YTD vs INWN's 63.5% rise and JSWE's 58% gain

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Oct 25 (Reuters) - Inox Wind Ltd INWN.NS:

• SEPT-QUARTER CONSOL NET PROFIT 928.9 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 7.32 BILLION RUPEES

Source text for Eikon: ID:nBSE2Cy493

Further company coverage: INWN.NS

(([email protected];))

Sept 23 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND LTD - SIGNS CONSORTIUM AGREEMENT WITH BANKS FOR 22 BILLION RUPEES FACILITIES

• INOX WIND - CONSORTIUM OF 10 BANKS LED BY ICICI BANK, WITH HOST OF MARQUEE PVT, FOREIGN BANKS

• INOX WIND - CONSORTIUM AGREEMENT LIMIT LIKELY TO BE ENHANCED FURTHER TO 24 BILLION RUPEES

Source text for Eikon: ID:nBSE8057zV

Further company coverage: INWN.NS

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Sept 18 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND - IGREL RENEWABLES ENTERS INTO LOI WITH INOX WIND

• INOX WIND - LOI FOR EXECUTION OF 550 MW OF WIND CAPACITY ON TURNKEY BASIS

• INOX WIND LTD - INOX WIND'S ORDERBOOK NOW OVER 3.5 GW

Source text for Eikon: ID:nBSE3r96mr

Further company coverage: INWN.NS

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** Shares of CESC CESC.NS rise 5.2% to 198.4 rupees

** Investec lists the power utilities company among its top picks in the sector, citing healthy power generation, comfortable valuations and strong earnings growth prospects

** Investec says India's power demand will grow at a CAGR of 6.2% from fiscal year 2024 to 2032

** Addition of further capacity to cater to rising power demand to open opportunities in transmission, helping the likes of NTPC, CESC, Inox Wind INWN.NS and Kalpaturu KAPT.NS

** INWN and KAPT stock up 0.9% and 0.1%, respectively, NTPC stock down 0.5%, on the day - exchange data

** Investec's target price of 230 rupees is the second highest of the 10 analysts tracking the stock, whose mean rating is equivalent to "buy"

** Median target price is 205 rupees, almost similar to current levels - LSEG data

** CESC up 51% in 2024 so far, outperforming the 27.2% rise in small-cap index .NIFSMCP100 - exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 13 (Reuters) - Inox Wind Ltd INWN.NS:

• BAGS 51 MW ORDER FROM EVERRENEW

Source text for Eikon: ID:nBSEbQ4L3T

Further company coverage: INWN.NS

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** Shares of Inox Wind INWN.NS rise as much as 9% to 189.95 rupees

** INWN on Friday reported a first-quarter consolidated net profit of 518.2 million rupees compared to a loss of 639.2 million rupees a yr ago

** The wind energy solutions provider said its total income from operations nearly doubled to 6.51 billion rupees

** Stock last up 5.1%, taking YTD gains to 46.7%

(Reporting by Anisha Ajith in Bengaluru)

(([email protected]))

Aug 9 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND JUNE-QUARTER CONSOL NET PROFIT 518.2 MILLION RUPEES

• INOX WIND JUNE-QUARTER CONSOL TOTAL INCOME FROM OPERATIONS 6.51 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: INWN.NS

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Aug 6 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND LTD - BAGS 201 MW ORDER FROM INTEGRUM ENERGY

Further company coverage: INWN.NS

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July 9 (Reuters) - Inox Wind Ltd INWN.NS:

• BAGS ORDER FOR 200 MW

• ORDER FOR CO'S 3 MW WTGS

Source text for Eikon: ID:nBSE8GPJKd

Further company coverage: INWN.NS

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July 4 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND LTD - TO ACHIEVE NET DEBT FREE STATUS WITH INFUSION OF 9 BILLION RUPEES BY PROMOTER

Source text for Eikon: ID:nBSE69ncSV

Further company coverage: INWN.NS

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May 31 (Reuters) - Inox Wind Ltd INWN.NS:

• BOARD OF DIRECTORS APPROVE INFUSION OF CAPITAL INTO INOX WIND

• INOX WIND ENERGY RAISED 9 BILLION RUPEES THROUGH SALE OF SHARES OF INOX WIND VIA BLOCK DEALS

• INOX WIND ENERGY TO INFUSE FUNDS IN INOX WIND

• FUNDS TO BE USED TO PARE DOWN CO'S NET EXTERNAL DEBT AS WELL AS AUGMENT ITS WORKING CAPITAL REQUIREMENTS

• POST FUND INFUSION, IWL WILL BECOME NET DEBT FREE, EXCLUDING PROMOTER DEBT

Source text for Eikon: ID:nBSEZQjyn

Further company coverage: INWN.NS

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May 28 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND LTD - TO CONSIDER AND APPROVE PROPOSAL FOR RAISING FUNDS

Source text for Eikon: ID:nBSE7mmCjD

Further company coverage: INWN.NS

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May 3 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND MARCH-QUARTER CONSOL NET PROFIT 465.4 MILLION RUPEES VERSUS LOSS 1.17 BILLION RUPEES

• INOX WIND MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.28 BILLION RUPEES VERSUS 1.91 BILLION RUPEES

Further company coverage: INWN.NS

(([email protected];;))

** Shares of Inox Wind up 5.1% at 633.6 rupees

** Wind turbine maker says it approved issue of bonus shares in 3:1 ratio

** Stock on track for best day since Feb. 19 if trend holds

** Stock set for most active day since Dec. 11, 2023

** Stock up 11.3% so far this week, on track for sixth straight weekly climb

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

April 22 (Reuters) - Inox Wind Ltd INWN.NS:

• TO CONSIDER ISSUANCE OF BONUS EQUITY SHARES TO SHAREHOLDERS OF COMPANY

Source text for Eikon: ID:nBSE7s8H1L

Further company coverage: INWN.NS

(([email protected];))

Corrects spelling of 'day' in bullet 4

** Shares of Inox Wind INWN.NS rise as much as 3.9% at 565.30 rupees

** The wind turbine generator maker says it has secured a repeat order from Hero Future Energies for 210 MW of their 3 MW wind turbine generators (WTGs)

** The WTGs will be supplied to Hero Future Energies from Q3 FY25 onwards and be installed in South India - Inox Wind

** Stock has been trading above its 200-day simple moving avg since last May, with volumes exceeding 933,000 shares, which is 0.9 times the 30-day average

** INWN stock eyes fifth straight weekly gain, if trend holds

** Including session's gains, stock up 12.8% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

** Shares of Suzlon Energy SUZL.NS down 4.6% at 41.90 rupees and Inox Wind INOX.NS down 5% at 6,574.10 rupees

** SUZL and INOX down for third straight session

** Media reports said India's New and Renewable Energy ministry has sent circular to power generation companies, reinstating old "reverse auctions" and bids on pan-India basis

** Under reverse auction, bidders for power projects can bid until tariffs go unchallenged, analysts with JM Financial said

** Eventhough policy uncertainty perspective is not desired, move likely to have insignificant impact given the large market size - JM Financial

** Suzlon down 7.3% over last three sessions, while INXO is down 6%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Feb 9 (Reuters) - Inox Wind Ltd INWN.NS:

• DEC-QUARTER CONSOL NET PROFIT 10.7 MILLION RUPEES VERSUS LOSS 2.87 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 5.03 BILLION RUPEES VERSUS 2.26 BILLION RUPEES

• NAMES RAHUL ROONGTA AS CFO

Source text for Eikon: ID:nBSEbF3H07

Further company coverage: INWN.NS

(([email protected];))

** Shares of Inox Wind INWN.NS rise as much as 6.7% to a record high of 578.8 rupees

** Wind turbine generator maker says it signed agreement with CESC CESC.NS to install and supply 1,500 MW wind capacity over the next 3-4 yrs

** Shares of CESC rise 1.8%

** INWN trading above its 200-day simple moving avg since May

** Stock up 9.6% so far this week; on track for four consecutive weekly gains, if trend holds

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Feb 6 (Reuters) - Inox Wind Ltd INWN.NS:

• INOXWIND SIGNS AGREEMENT FOR LAUNCH OF 4.X MW WIND TURBINES IN INDIA

Further company coverage: INWN.NS

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Jan 9 (Reuters) - Inox Wind Ltd INWN.NS:

• INOX WIND - RECEIVES LOI FOR 50 MW WIND PROJECT FROM NLC INDIA

Source text for Eikon: ID:nBSEbVvd8d

Further company coverage: INWN.NS

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** Shares of wind turbine generator (WTG) maker Inox Wind Ltd INWN.NS rise as much as 5.9% to 480 rupees

** Co gets repeat order for 279 million watts (MW) for its 3 MW WTGs from a commercial and industrial player

** Stock trading above its 200-day simple moving avg since May 29 when INWN rose after Q4 loss narrowed

** Stock on track to gain for the third consecutive month and ninth straight week, if trend holds

** INWN last up 3.5%, adding to YTD gains of ~332%, largest yearly gain ever

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

** Shares of INOX Wind INWN.NS rise as much as 9.8% to 399 rupees, highest level since Nov 2015

** ICICI Securities initiates coverage on co, which supplies wind energy solutions, with "buy" and PT at 425 rupees

** Says 50% of wind market looking for full stack supplier; INWN will be a major supplier along with Suzlon SUZL.NS

** INWN will be aided by new govt policy for renewables, brokerage says

** ICICI sees INWN's earnings at 4.4 bln rupees in FY25 and 6.5 bln rupees in FY26

** Brokerage says more wind power needed, sees capacity addition to increase to more than 6.5 gigawatt in FY26 from 2GW presently

** INWN shares nearly quadrupled YTD vs 23% gains in Nifty exergy index .NIFTYENR

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Dec 4 (Reuters) - Inox Wind Ltd INWN.NS:

• COMPLETES INFUSION OF 8 BILLION RUPEES INTO INOX WIND LIMITED

Source text for Eikon: ID:nBSE4Xc4Q0

Further company coverage: INWN.NS

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