INOX India awarded contract to set up Mini LNG Terminal for Island Power Producers at The Bahamas

INOX India to supply 10 X 1500m³ LNG storage tanks and a re-gasification system for a Power Plant project at the island nation

With a collective storage capacity of 15000 m³ LNG, this would be the largest installation of shop-built double-walled vacuum insulated cryogenic tanks in the world

This biggest-ever order till date for the LNG business of INOX India, would witness the production of largest double-walled vacuum insulated cryogenic tanks ever made by the Company

The 3^rd Mini LNG terminal made by the Company would also be its largest

Vadodara, 11^th November, 2024. INOX India Ltd (INOXCVA), one of the world’s leading cryogenic technology solution providers, has been awarded a major contract by Island Power Producers Limited (IPP). This contract includes the turnkey design, engineering, and supply of a Mini LNG receiving and regasification terminal at The Bahamas. The terminal will feed natural gas to IPP’s 60 MW combined cycle power plant being set to provide shore power to Cruise Ships at the Nassau Cruise Port. The terminal is expected to serve as a model distribution hub for smaller LNG users, supporting power generation and other energy needs across The Bahamas. With a collective storage capacity of 15000 m³ LNG, this would be the largest installation of shop-built double-walled vacuum insulated LNG storage tanks in the world.

The contract would include the supply of 10 vacuum insulated storage tanks of 1500m3 capacity and a regasification system. These tanks will be the largest double-walled vacuum insulated tanks ever made by INOXCVA, making it the biggest order ever received by its LNG business division. This would also be the largest Mini LNG Terminal made by INOXCVA, and the first of its kind in the region, dedicated to providing shore power to Cruise Ships. Once commissioned, the Mini LNG Terminal will be capable of receiving LNG through smaller ships as well as reloading of LNG in ISO Containers to service LNG users in the vicinity. The contract for INOXCVA’s 3^rd and the largest Mini LNG terminal coincides with the completion of INOXCVA’s 2^nd mini-LNG terminal set up by INOXCVA at Antigua, underlining the growing adoption and increased application of LNG as a fuel, especially in remote locations.

Speaking on the occasion, Siddharth Jain, Promoter and Non-Executive Director, INOX India Ltd said, “We are proud to play a key role at the global level in ushering the growing adoption of LNG in various forms, whether as transport fuel or for power generation, with path breaking solutions. As the largest Mini LNG Terminal ever built by us, and the largest ever installation of double walled vacuum insulated cryogenic tanks, our partnership with Island Power Producers would enable us to collectively build a model application for LNG distribution as well as consumption, for power generation and other energy needs. Our innovative design, massive scale and modularized concept will ensure minimum site activity and enable faster implementation of the project. With this order, we are setting yet another example of providing a complex cryogenic solution with utmost ease. With all major components being made at our facility at Kandla, we are proud to be raising the call of making in India, for the world.”

“Island Power Producers and their project partners are proud to work with INOXCVA on this state-of-the-art modular LNG terminal being set up at the Arawak Cay, Nassau that serves as a template for our plans throughout The Bahamas, and hub for cost-effective, low-carbon fuel supply to the country and region,” said Chris Satterfield, Director at IPP. “With secure, affordable, sustainable and reliable LNG based power supply from Island Power’s upcoming facilities in Nassau and the unmatched experience and know-how of IPP’s partners, The Bahamas will benefit from the use of this lower-carbon fuel creating opportunities for the country and the region. Moving to LNG also enables the fuel mix to further reduce carbon footprint and meet committed goals for the country on carbon reduction.”

About INOX India Ltd

INOX India Limited (INOXCVA) is one of the largest manufacturers of Cryogenic Storage, Re-gas and Distribution Systems for LNG, Industrial Gases and Cryo-Scientific applications with operations in India, Brazil & Europe. The Company has an extensive user base, spread across more than 100 countries and is serviced by a network of after-sales support associates in 25 countries. The company is leading India’s efforts in adoption of LNG for industrial and automotive purposes. The Company’s key strength lies in design engineering, manufacturing, supply and commissioning of Cryogenic turnkey packaged systems with reputation and a vision to deliver a significantly higher value to its consumers. For more information, please visit www.inoxcva.com.

About Island Power Producers (IPP)

Island Power Producers is a company established to build and operate a state-of-the-art LNG based power plant to provide shore power to cruise ships docked at the Nassau Cruise Port and to deliver low-carbon fuel and power solutions to The Bahamas region. For more information, please visit: www.islandpowerproducersltd.com