This Green Energy Stock is in Focus as the Company Forays Into Solar O&M With 675 MWp Deal Across Multiple States
In the last 12 months, the stock is down by 1 per cent while in last 5 year it is jumped by 129 per cent.
Inox Green Energy Services Ltd., India’s leading renewables operations and maintenance (“O&M”) service provider, announced today that the company has entered into an agreement to provide operations and maintenance (O&M) services for 675 MWp of solar projects of one of India’s leading renewable energy companies. The projects are located at sites owned by the said company across multiple states. With this agreement, Inox Green marks its entry into solar O&M, in a sector which is poised to increase multi-fold over the next decade, providing immense growth opportunities for the company.
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On this occasion, Mr. S K Mathusudhana, CEO of Inox Green, remarked, "We are thrilled to enter into this agreement with a marquee customer. With this, Inox Green has now forayed into solar O&M which offers large-scale growth opportunities for us in one of the fastest expanding industries. We believe that with our expertise, credentials and relationships across customers in India, we will be able to rapidly grow our portfolio of assets under management.”
About Company
Inox Green Energy Services Limited is one of the major renewable power operations and maintenance (“O&M”) service providers in India with > 4 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. In the last 12 months, the stock is down by 1 per cent while in last 5 year it is jumped by 129 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.