Inox Wind on Monday said its arm Inox Green Energy Services has sold its entire equity stake in three special purpose vehicles to Adani Green Energy.
“INOX WIND…through its subsidiary arm, INOX Green Energy Services Limited (IGESL) has sold the entire equity shareholding in Wind One Energy Limited, Wind Three Energy Limited and Wind Five Energy Limited to Adani Green Energy Limited.” said in the BSE filing.
These Special Purpose Vehicles (SPVs) commissioned 50 MW each out of a total of 250 MW, which it successfully commissioned under tranche 1 of Solar Energy Corporation of India Limited (SECI-1) bids for wind power projects at Dayapar, Gujarat. had achieved. On the central grid…,” it added.
Inox Green Energy will provide long-term operation and maintenance services for these projects.
Inox Wind, through its SPV, had supplied and commissioned 25 units of its Advanced 2 MW Wind Turbine Generator (WTG) as part of a 50 MW project each.
Inox Wind won the SECI Trench 1 auction at a fixed rate of 250 MW 3.46 per unit for sale to PTC India for 25 years.
In a separate filing, it said that IGESL has sold its entire 100 per cent stake in the three firms (projects) for cash consideration 1 lakh each.
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