Inox Green Energy inks O&M services contract, check stock reaction 

Inox Green Energy Services Ltd on Wednesday said the company has inked 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," said India’s leading renewables operations and maintenance (O&M) service provider.

Meanwhile, the Inox Green Energy stock slipped 1.75% to Rs 140.25 in early deals today against the previous close of Rs 142.95.

Market cap of the firm stood at Rs 5160.26 crore.

SK Mathusudhana, CEO of Inox Green said, "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.”

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.