Shares of Inox Wind Ltd were trading in the green and 1% higher on 23 July after the company announced securing a 51 megawatt (MW) order from First Energy. 

In its regulatory filing, the company said, “Inox Wind. has bagged a 51 MW order from First Energy (FEPL), for the supply of the company’s 3 MW class turbines having 140-meter hub height and rotor diameter of 145 meters.”

Through its SPV First Energy 10 Private Limited, First Energy will install these turbines at the project site it is developing in Tamil Nadu.

The scope of the order also covers limited scope EPC services for the project, including supervision, and multi-year operations and maintenance (O&M) services after the WTGs are commissioned. These services will be carried out by IWL subsidiaries.

The company’s board of directors authorised the issuance of equity shares with a face value of Rs 10 each to eligible equity shareholders as of the record date in order to raise funds for a maximum of Rs 1,250 crore during its 17 July meeting.

However, at 12:08 pm, the shares of Inox Wind shed all their early gains and were trading 0.54% lower at Rs 164.78 on NSE. 

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