Inox Wind Limited (IWL), a leading wind energy solutions provider in India, has announced receiving top ratings from Acuité Ratings for its short-term and long-term bank facilities.
Key Ratings:
- Short-Term Facilities: Received the highest possible rating, ‘ACUITE A1+’, for non-fund-based limits such as letters of credit (LC) and bank guarantees (BG).
- Long-Term Facilities: Rated ‘ACUITE A+ | STABLE’, reflecting IWL’s strong financial position with a net cash-positive balance sheet.
Highlights:
Acuité Ratings attributed these strong ratings to:
- Robust Order Book: Approximately 3.5 GW, supported by a strong order pipeline.
- Improved Financial Performance: Reflecting enhanced execution capabilities and operational efficiency.
- Expertise in Manufacturing and Technology: Contributing to growth visibility in revenue and profitability.
About Inox Wind:
IWL, a part of the $12 billion INOXGFL Group, operates as a fully integrated player in the wind energy sector with four state-of-the-art manufacturing facilities across Gujarat, Himachal Pradesh, and Madhya Pradesh. The company’s manufacturing capacity is approximately 2.5 GW per annum.
Inox Wind provides end-to-end wind energy solutions, including manufacturing, commissioning, and operation & maintenance (O&M). Its subsidiaries, Inox Green Energy Services Ltd. and Resco Global Wind Services Pvt. Ltd., enhance its offerings by specializing in wind O&M services and EPC services for renewable projects, respectively.
This recognition of IWL’s strong operational foundation and financial health positions it for continued growth in the renewable energy sector.
