02 Sep 2024
On Monday, Inox Wind Limited (IWL) announced that its subsidiary, Resco Global Wind Services Pvt. Ltd., has secured approval for a ?350 crore equity raise from investors in exchange for a single-digit stake. The funds will be used to expand our business offerings and seize significant opportunities in the Indian wind sector.
The company highlighted that Resco Global ranks among the top two wind EPC service providers in India, boasting a robust operational history of over 14 years. Resco Global delivers comprehensive end-to-end services for wind projects, encompassing everything from initial conceptualisation to project commissioning.
This includes the construction of transmission infrastructure to facilitate power evacuation, offering turnkey solutions on a plug-and-play basis. Operating nationwide, Resco Global has a particularly strong presence in Western India. The company is also advancing the development of multi-gigawatt-scale common infrastructure across various sites in India to support future renewable projects.
Under its EPC expansion, the company is now branching out into crane services and exploring new revenue opportunities by hybridising its power evacuation assets. Recent renewable energy policies across various states permit the hybridisation of both existing and future transmission assets, creating additional revenue potential for asset owners like Resco Global. Inox Wind’s extensive and diverse order book, totalling approximately 3 GW, along with a robust pipeline of incoming orders, ensures strong revenue prospects for Resco Global, according to Inox Wind.
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