Inox Green Energy Services Ltd has signed agreements to provide operations and maintenance (O&M) services for 285 MWp of solar projects of two leading renewable energy companies. This development has led to the company's solar O&M portfolio growing to 1 GW within a month of entering this segment. The stock price of Inox Green Energy surged 6.44 per cent to hit a high of INR 157.85 following the announcement.

Agreements and Portfolio Expansion

The agreements signed by Inox Green Energy are for solar projects located across multiple sites, owned by the two leading renewable energy companies. Although the names of the companies were not disclosed, the development marks a significant expansion of Inox Green Energy's solar O&M portfolio. The company's CEO, SK Mathu Sudhana, expressed optimism about the growth prospects in the solar energy sector.

Financial Impact

The stock price of Inox Green Energy jumped 6.44 per cent to INR 157.85 after the announcement, and it was last seen trading 4.32 per cent up at INR 154.70. This represents an 11.38 per cent increase in the stock price over the past month. The surge in stock price indicates a positive market response to the company's expansion into the solar O&M segment.

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