President Donald Trump signed an executive order Monday temporarily halting offshore wind lease sales in federal waters and pausing the issuance of approvals, permits and loans for both onshore and offshore wind projects. The interior secretary will review wind leasing and permitting practices for federal waters and lands. The assessment will consider the environmental impact of wind projects on wildlife, the economic costs associated with the intermittent generation of electricity and the effect of subsidies on the viability of the wind industry, the order states. Trump wants to increase drilling for oil and gas and has been hostile to renewable energy, particularly offshore wind. Trump's pick for interior secretary, Doug Burgum, was asked during his confirmation hearing whether he would commit to continuing with offshore wind leases that have been issued. Burgum said projects that make sense and are already in law will continue. Wind power currently provides about 10% of the ...
Envision Energy India on Thursday said it has secured a 1 GW wind energy project and its first 320 MWh battery energy storage system order from Juniper Green Energy (JGE). JGE will deploy Wind Turbine Generators (WTGs) for various projects secured through State and Central auctions, as well as the Battery Energy Storage System (BESS) package for the Firm Dispatchable Renewable Energy (FDRE) project awarded to SJVN under its first FDRE auction, according to a statement. Envision Energy India said it has signed up with JGE for the supply of 200 EN 182|5MW turbine platforms, along with its debut 320 MWh BESS. Envision's WTGs are based on 182-metre rotor diameter, hub height of 140-metre and an ideal configuration for wind & site conditions in India. This 5MW turbine platform has a proven performance in booming markets of Middle East and North Africa (MENA) region, Southeast Asia, and China. Envision's energy storage solution with 5MWh and 20-feet containerised storage unit will be ..
The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit thinned while margins from oil and gas rose
Shares of INOXGFL Group companies Inox Wind Energy (IWEL) and Inox Wind were on a roll and rallied up to 36% in past two days after the companies reported strong earnings and healthy outlook.
Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs), a company statement said, adding that Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be executed across four states -- Madhya Pradesh, Rajasthan, Karnataka and Maharashtra. According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I (Industrial and Commercial) player. Inox Wind CEO Kailash Tarachandani said, "Integrum has been a longstanding partner for us, and we are delighted that they have reaffirmed their faith in our product and solutions with this large equipment supply order for 201 MW". Integrum Energy founder and CEO Anand Lahoti said, "Integrum is on a strong growth journey, focusing on providing hybrid ...
Govt support will help wind-energy projects
Sri Lanka's Supreme Court has given Prime Minister Dinesh Gunawardena, the Cabinet and the Adani Group three weeks to file preliminary objections to a petition filed by an environmental group against the wind power project undertaken by the Indian conglomerate in the country. Sri Lanka's Adani Group renewable project entails two wind energy projects; a 250 MW in the northeastern district of Mannar and a 234 MW project at Pooneryn in the north. The total investment was to be USD 750 million. On Tuesday, a three-member bench of the apex court gave the prime minister, the Cabinet and the Adani Group three weeks to file preliminary objections to the rights petition against the project. An environmental rights group had claimed in court that a decision by the Cabinet to treat the Adani wind power project as a Sri Lanka-India government-to-government venture was illegal and that it would cause immense damage to the migratory bird population causing environmental hazards. They had also .
Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the 'Record Date', a company statement said. According to the statement, Inox Wind Ltd Board of Directors at its meeting held on April 25, 2024 has proposed the issuance of three bonus equity shares for every one existing equity share out of the accumulated reserves of the company. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind's shares, broadening participation of a wider set of investors, it stated. Over the course of financial year 2023-24, Inox Wind turned profitable in the September-December 2023 quarter on the back of a significant ramp up in business operations. Moreover, over the course of the pas
This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders of the company
Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.
India installed 20.8 GW of solar modules and 3.2 GW of cell manufacturing capacity in 2023, according to Mercom Capital. The country's cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023, the US-based research firm said in its latest report, State of Solar PV Manufacturing. "About 60 per cent of the installed module manufacturing capacity was equipped to manufacture solar modules in M10 and G12 wafer sizes," the report said. Monocrystalline modules accounted for 67.5 per cent of the country's module production capacity, followed by polycrystalline, tunnel oxide passivated contact (TOPCon), and thin film modules, Mercom said. Module manufacturing capacity is projected to surpass 150 GW, and cell capacity is expected to reach over 75 GW by 2026, it said. "As Indian manufacturers continue to invest in expanding their solar panel production capacities, they need to carefully navigate through the complexities
As governments green their economies and utilities retire fossil-fuel power stations, wind installations are emerging as one of the most popular forms of alternative energy
Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes
Shares of companies involved in wind energy generation declined up to 5 per cent amid reports that the government may bring back reverse auctions in the wind energy sector
Juniper Green Energy and Envision Energy have collaborated for the development of a 300-MW wind energy project in Gujarat. As per the partnership, Envision will supply 91 units of EN 156-3.3 MW WTGs (wind turbine generators) and oversee the installation, commissioning and maintenance of all WTGs. The project is expected to be commissioned in a phased manner by the end of 2025 and will produce 1,000 GWh units of clean energy annually, according to a statement. Naresh Mansukhani, CEO, Juniper Green Energy, said in the statement, "We are happy to collaborate with Envision Energy for the development of this wind project." RPV Prasad, CEO, Envision Wind Power Technologies India, said, "As part of our commitment to the Atmanirbhar Bharat vision, we would be assembling the nacelle and hubs for the wind turbines at our Pune factory, while towers and blades will be sourced locally." Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said, "Together wit
Wind energy solution provider Inox Wind is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues, a top official has said. Its parent INOXGFL Group's Executive Director Devansh Jain said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. Inox Wind Limited (IWL) is a group company of USD 8 billion INOXGFL Group, engaged in the chemicals and renewables space. On Friday, Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October-December 2023 period after reporting a back-to-back loss for the last five years. In a telephonic interaction, the executive director attributed "robust order book and revenue growth of over 100 per cent to Rs 506.88 crore, aided by advantageous market conditions" as the key factors leading to the turnaround
Inox Wind on Friday posted a consolidated net profit of Rs 1.81 crore in the December 2023 quarter on the back of higher revenues. It had suffered a loss of Rs 287.86 crore in the October-December quarter a year ago, Inox Wind said in an exchange filing. The company's total income rose to Rs 506.88 crore in the reporting quarter from Rs 237.68 crore in the year-ago period. In a separate statement, the company said its EBIDTA was at Rs 99.5 crore in the quarter against an EBITDA loss of Rs 172.5 crore in the same quarter of 2022-23. The company's orderbook stood at 2.6 GW, the statement said. Devansh Jain, Executive Director, INOXGFL Group said efforts put in over the last few quarters have yielded a remarkable turnaround for Inox Wind in the third quarter, which is reflected in the current order book and the reported numbers. "I firmly believe that we have just embarked on a massive growth journey. With all the levers aligned, which includes the strong promoter backing of the com
Homegrown Inox Wind on Tuesday said it has partnered with Germany-based Wind to Energy to introduce a new series of wind turbine generators in the domestic market. Under the agreement, Wind to Energy (W2E) will share its technology and design for the 4.X MW series wind turbine generators (WTG), Inox Wind Ltd (IWL) said in a statement. The new series of wind turbine generators has been designed for low wind regimes in India, the company said. Wind to Energy (W2E) is a global provider of technology and design for wind turbines. Inox Wind currently manufactures 2 MW and 3 MW turbines with multiple blades on existing licences with AMSC. The company will target installations of its 4.X MW series WTGs across various sites in the country. A 4.X MW series WTG can be upgraded with the use of boosters and Inox Wind will offer it in multiple blade and tower variants, it said. "The launch of 4.X MW wind turbines marks an important milestone for Inox Wind, as we continue on our exciting growt
The biggest stock winners in India's renewable sector are now all facing the challenge from minuscule earnings, which has sent valuations through the roof
Renewables solutions provider Suzlon Group on Tuesday said it has bagged a 642-MW wind power project from an Evren company, ABC Cleantech Private Limited (ACPL). Evren is a joint venture in India between Brookfield and Axis Energy. As part of the order, Suzlon will install 214 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each in Andhra Pradesh, a company statement said. "Suzlon is committed to partnering with Evren to enhance their green energy portfolios while helping advance India's renewable energy goals," Girish Tanti, Vice Chairman, Suzlon Group said in the statement. Evren is the new development platform launched by Brookfield in India as a joint venture with Axis Energy. Evren has an initial target to build over 6 GW of renewable energy assets in the next 2-3 years in the most resource-rich states in India. JP Chalasani, Chief Executive Officer, Suzlon Group, said in the statement, We are happy to announce our first o