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Inox Green Energy Expands Solar O&M Portfolio to 1 GW Within a Month

The company secures 285 MWp in new contracts, driving a 6.44% stock surge and reinforcing its rapid growth in India's solar sector.

Inox Green Energy inks pacts for 285 MWp solar projects; stock jumps 6%
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Overview

  • Inox Green Energy Services Ltd signed agreements to provide operations and maintenance (O&M) services for 285 MWp of solar projects across multiple sites owned by two leading renewable energy firms.
  • These new contracts have expanded the company's solar O&M portfolio to 1 GW, achieved within just one month of entering the segment.
  • The company's stock price surged 6.44%, reaching a high of Rs 157.85, with strong trading volumes and significant investor interest.
  • CEO SK Mathu Sudhana highlighted the company's expertise and tailor-made solutions as key drivers for its rapid growth in the solar O&M market.
  • Promoters maintain a 55.93% stake in the Inox Wind subsidiary, underscoring continued corporate backing amid the company's diversification into solar energy services.