3,300 MW Order Book: Solar Energy Company Signs Agreements for O&M of 639 MWp of Solar Projects
The stock gave multibagger returns of over 280 per cent in just 2 years whereas the BSE Sensex Index is up by 32.2 per cent.
Inox Green Energy Services Ltd., a prominent renewables operations and maintenance service provider in India, announced that the company has entered into agreements to provide O&M services for 639 MWp of solar projects of one of India’s leading renewable energy companies, which is backed by a major energy MNC. The projects are located across multiple sites which are owned by the said company. With this addition, Inox Green’s solar O&M portfolio reaches ~ 1.6 GW, as the company continues to rapidly grow in this segment, taking the total renewable O&M portfolio to > 5 GW.
Earlier, the company signed agreements for O&M services of 285 MWp of solar projects belonging to two leading Indian renewable energy companies. These projects are spread across various locations, and this development has expanded Inox Green’s solar O&M portfolio to approximately 1 GW within a single month of the company entering this sector. The company intends to further increase its solar O&M assets through both organic expansion and strategic acquisitions.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
About the Company
Inox Green Energy Services Limited is one of the major renewable power operations and maintenance (O&M) service providers in India with > 5 GW of renewable assets under management. The company is engaged in the business of providing long-term O&M services for renewable energy projects. Part of the INOXGFL Group and a subsidiary of Inox Wind with whom it enjoys a synergistic relationship, Inox Green is India’s only listed pure-play renewable O&M services company. It has a strong and diverse portfolio base and an established track record of over a decade. It has reliable cash flows supported by long-term O&M contracts. Its customers include some of the largest IPPs, PSUs, along with various retail customers.
The company has a market cap of over Rs 6,600 crore and as of December 31, 2024, the company’s order book stands at Rs 3,300 MW or 3.3 GW. The stock gave multibagger returns of over 280 per cent in just 2 years whereas the BSE Sensex Index is up by 32.2 per cent. The stock’s 52-week high is Rs 224.65 and its 52-week low is Rs 95.65.
Disclaimer: The article is for informational purposes only and not investment advice.