Inox Wind, Inox Green Energy Services reduce debt by Rs 411 crore

Wind energy solutions provider Inox Wind on Tuesday said the company and its arm Inox Green Energy Services have paid debts of Rs 411 crore.

Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said.

Consequently, the corporate guarantees given by Gujarat Fluorochemicals Ltd have also got reduced to that extent.

Both the companies are in the process of further reducing their debt in due course, it added.

Inox Wind Ltd is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors.

Inox Wind is a fully integrated player in the wind energy market with three stateof-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Inox Wind's manufacturing capacity stands at 1,600 MW per annum.

Inox Green Energy Services Ltd (IGESL) is one of India's leading wind power operations and maintenance (O&M) service providers.