Rosatom May Buy Inox’s Turbine Manufacturing Business

Russia’s Rosatom State Atomic Energy Corp. is exploring an investment in Inox Group’s wind turbine manufacturing business the interest stems from its strategy to gain control over the supply chain, which in turn will help towards reining in costs and offer competitive tariffs in the country’s wind power space.

Rosatom which is already present in India through a partnership with state-run Nuclear Power Corp. of India Ltd for the Kudankulam nuclear plant in Tamil Nadu, is interested in the wind energy space with around 40 million unelectrified households in the country. Attracted by the opportunity to cater to around 304 million Indians who live without access to electricity, Rosatom is planning to enter the country’s renewable energy sector and also planning to set up small hydropower projects here

Through its unit JSC OTEK, it already has a partnership with the Netherlands’ wind turbine maker Lagerwey Wind BV but wants to build a manufacturing presence so it is eyeing Inox.

The $3 billion Inox Group in March announced selling its operating wind power farm assets to Leap Green Energy Pvt. Ltd. These 260 mega watt (MW) assets are owned by Inox Renewables Ltd, a wholly owned subsidiary of Gujarat Fluorochemicals Ltd and a part of the Inox group. It recently settled its dispute with Jeena and Co., a freight company that had filed a case against the wind energy firm with the Chandigarh bench of the National company Law Tribunal (NCLT) for bankruptcy proceedings.

Queries emailed to the spokespersons of Rosatom and Inox group remained unanswered.