Indo Tech Receives LOI from Renew Wind Energy for Supplying Transformers
Indo Tech Transformers Ltd., a major transformer manufacturing company situated in Southern India, has received a Rs. 64.99 crore order from Renew Wind Energy (Jamb) Pvt. Ltd. for the supply of transformers. Indo Tech had received a Letter of Intent (LOI) for this order on 8th January 2026. The information was made available via a press release dated January 9, 2026.
As per the press release, this order includes manufacturing and supplying of 6 units of 220 KV – 165 MegaVolt Amperes (MVA) transformer to Renew Wind Energy. Delivery of the said units is to be completed between February 2027 and May 2027.
As per the company’s official stock filing, this order is considered to be a ‘material event’, as the order value is comparatively significant ‘compared to the transactions in the ordinary course of business’.
Indian transformer manufacturing market is witnessing rapid growth, driven by grid modernization, Renewable Energy (RE) targets, and rising power demand. A Mordor Intelligence report suggests that the transformer market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.22% over the course of 2026-2031. The Indian transformer market will increase from USD 3 billion in 2025 to USD 3.25 billion in 2026, and by 2031, it is expected to reach USD 4.82 billion.
