3,300 MW Order Book: Solar Energy Company Signs Agreements for O&M of 285 MWp of Solar Projects

The stock gave multibagger returns of over 250 per cent in just 2 year whereas the BSE Sensex Index is up by 33 per cent.

Inox Green Energy Services Ltd., a prominent renewables operations and maintenance service provider in India, announced 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.

On this occasion, Mr. SK Mathu Sudhana, CEO of Inox Green, remarked, "We continue to rapidly add solar assets to our portfolio under O&M and we are delighted to announce that we have secured an additional 285 MWp across multiple sites. As developers across India continue to add multi-gigawatt solar capacities every month, we believe that through our expertise, credentials and tailor-made solutions for solar project O&M, we are well placed to grow rapidly in this segment.”

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 > 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.

The company has a market cap of over Rs 5,000 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 250 per cent in just 2 year whereas the BSE Sensex Index is up by 33 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.