Archive · 18 Nov 2025
Inox Green's 300 MW Wind Project Loses Grid Access; Stock Plunges
A company called Inox Green was supposed to build a big wind farm in Gujarat, India.
They were given permission to connect their farm to the country's power grid, but they took too long to finish building.
The electricity regulator said they couldn't use their spot on the grid anymore because they didn't finish on time.
This news caused the company's stock price to drop significantly.
The stock exchanges wanted the company to explain what happened.
Inox Green Energy Services lost grid connectivity for its 300 MW wind project in Gujarat due to project delays.
CERC upheld the disconnection, citing failure to achieve financial closure and significant progress.
CTUIL revoked connectivity and encashed bank guarantees worth ₹3.5 crore.
Inox Green's stock price dropped 9.95% following the news, recovering to a 5.34% loss by the end of the session.
Both BSE and NSE sought clarification from the company.
- Who
- Inox Green Energy Services
- What
- Lost grid connectivity for a 300 MW wind project and experienced a stock price drop
- When
- Connectivity revoked on March 10, 2025; CERC order dated November 17, 2025; Stock drop on November 18, 2025
- Where
- Gujarat, India; Stock exchanges BSE and NSE
- Why
- Failure to complete the project on time, achieve financial closure, and make significant progress, leading to revocation of connectivity and stock price drop due to the news
Inox Green Energy Services
CERC/CTUIL
Reasons for Delays
Inox Green Energy Services
Inox Green cited land allotment issues, transmission readiness, and pandemic disruptions as reasons for project delays.
CERC/CTUIL
The CERC stated that Inox Green failed to achieve financial closure or make significant progress despite repeated extensions and had been holding connectivity for too long.
Retention of Connectivity
Inox Green Energy Services
Inox Green sought to retain grid connectivity due to the aforementioned delays.
CERC/CTUIL
The CERC rejected the plea, stating Inox Green had taken undue advantage of the delay in revocation and directed them to apply afresh.
- Project Capacity
- 300 MW
- Location
- Gujarat, India
- Connectivity Revoked
- March 10, 2025
- Bank Guarantees Encashed
- ₹3.5 crore
- CERC Order Date
- November 17, 2025
- Stock Drop
- 9.95% (recovered to 5.34%) on November 18, 2025
- Total Cancelled Grid Access (India)
- Nearly 17 GW
