Inox Green share price jumps 5% after signing of 285 MWp solar project

Inox Green Energy Services share price jumped over 5 per cent in Monday's trading session after the company announced it has entered into agreement to provide O&M services for 285 MWp of solar projects of two of India’s leading renewable energy companies.

At 10am, Inox Green Energy share price touched an intraday high to ₹157.31 apiece on May 19.

Inox Green Energy agreement details

The company announced that it has entered into agreements with two of India’s top renewable energy firms for projects spread across various locations.

As a result of these agreements, Inox Green’s solar operations and maintenance (O&M) portfolio has expanded to 1 gigawatt (GW).

“ We continue to rapidly add solar assets to our portfolio under O&M and we are delighted to announce that we have secured 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 grow rapidly in this segment,” said Mathu Sudhana, CEO of Inox Green.

In April, Inox Green Energy signed a deal to deliver operations and maintenance (O&M) services for 675 MWp of solar projects owned by a major Indian renewable energy firm.

Inox Green Energy shares have gained over 11.65 per cent in one year. The stock has given multibagger returns by soaring over 148.88 per cent in five years.

Inox Green Energy Services Limited is one of the major renewable power operations and maintenance 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. 

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