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Russia's Atomic Energy Plans To Invest Inox To Enter The Indian Wind Power Market Apr 23, 2018

According to the Indian business daily Mint, Russian state atomic energy company Rosatom is in early negotiations to invest in Indian wind turbine manufacturer Inox wind power.

Earlier this year, Rosatom announced that Lagerwey in the Netherlands had signed an agreement to license wind turbine technology to its subsidiary OTEK. According to sources, OTEK hopes to manufacture wind turbines in Russia and will also take a place in the Indian wind power manufacturing market and control the supply chain.

Inox Wind produces blades, cylinder towers, wheels, nacelles and more. The current blade production capacity is maintained at 1600 MW. Atul, Head of Corporate Investor Relations

Soni said in early August that with less capital expenditures, the company will be able to lift its existing nacelle and hub capacity of 1,100 MW. Tower production will also be improved with minimal investment.

In the first quarter of the fiscal year ended March 31, 2018, Inox's revenue fell from 4.35 billion rupees (about 452 million yuan) to 1.06 billion rupees (about 110 million yuan), and from 118.2 million rupees a year ago. (About RMB 12.29 million) Net profit converted to a post-tax loss of INR 390 million (approximately RMB 405.6 million). As the Indian wind power market transitioned from the feed-in tariff subsidy mechanism to the wind power contract auction system, the market experienced a temporary recession and the company’s performance was also affected.

Inox expects the market to normalize in the fourth quarter of this year. The 2018/19 fiscal year will be the beginning of a strong growth phase for the wind power industry.