Inox Green signs agreement for comprehensive O&M of 182 MW of wind projects

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 with one of the largest and most diversified Indian conglomerates for the comprehensive O&M of 182 MW of operational wind projects housed under its renewable energy arm. The projects are located across multiple sites in Western India plugged into the common infrastructure owned by Inox Green. The agreement involves the conversion of limited-scope to comprehensive O&M for 82 MW of wind projects, as well as the renewal of comprehensive O&M for another 100 MW of wind projects, much ahead of its due renewal. The contract spans the entire balance life of the wind projects.

On this occasion, Mr. SK Mathu Sudhana, CEO of Inox Green, remarked, "We are excited to announce the signing of the comprehensive O&M agreements for 182 MW with the renewable arm of one of the largest conglomerates in India. This is a milestone occasion for us as with the signing of the agreement, our entire fleet with this marquee customer is now back in our fold. This showcases the changing dynamics in the wind O&M industry and the reaffirmation of the trust which our customers are showing on our renewed capabilities."

Shares of Inox Green Energy Services Limited was last trading in BSE at Rs. 155.65 as compared to the previous close of Rs. 154.15. The total number of shares traded during the day was 8147 in over 104 trades.

The stock hit an intraday high of Rs. 156.65 and intraday low of 152.00. The net turnover during the day was Rs. 1265168.00.

Source : Equity Bulls

Keywords

InoxGreenEnergyServices INE510W01014 Utilities Agreement OandM WindProjects