Russia’s Rosatom in talks with Inox’ Group for investment in its wind turbine manufacturing business
Russia’s Rosatom State Atomic Energy Corp. is exploring an investment in Inox Group’s wind turbine manufacturing business. The Russian government company’s interest in India’s second largest wind-turbine maker by market share 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.
According to media reports, Rosatom is exploring this investment given its interest in the Indian wind energy space. It is trying to build a manufacturing presence. Through its unit JSC OTEK, it already has a partnership with the Netherlands’ wind turbine maker Lagerwey Wind BV.
The Inox Group is a diversified conglomerate, operating in industrial gases, chloromethanes, refrigerants, fluoropolymers, multiplexes, wind turbine manufacturing and cryogenic engineering. 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.