Inox Green hits 5% upper circuit on inking 182 MW O&M agreement

Business Standard

12-08-2025

Inox Green Energy Services shares hit a 5 per cent upper circuit on Tuesday, August 12, 2025, at ₹163.4 per share on BSE.
At 11:39 AM, Inox Green Energy Services' share price was trading 2.15 per cent higher at ₹159 per share. In comparison, the Sensex was 0.11 per cent lower at 80,518.03.
Why were Inox Green Energy Services shares buzzing in trade?
The buying interest on the counter came after the company entered into an agreement for operations and maintenance (O&M) of 182 MW of operational wind projects.
Inox Green did not mention the name of the entity but said that it has inked the agreement with a renewable energy arm of one of India's largest conglomerates.
According to the filing, 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. That apart, in April, the company entered into an agreement to provide operations and maintenance (O&M) services for 675 MWp of solar projects of one of the country's leading renewable energy companies.
This agreement marks Inox Green's entry into solar O&M -- a sector which is poised to increase multi-fold over the next decade, providing immense growth opportunities for the company, a company statement 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.
About Inox Green Energy Services
The company is a renewable power operations and maintenance (O&M) service provider in India with more than 5 GW of renewable assets under management. The company is engaged in the business of providing long-term O&M services for renewable energy projects. Part of the Inox Green Energy Services Group and a subsidiary of Inox Wind with whom it enjoys a synergistic relationship, Inox Green is India's only listed pure-play renewable O&M services company. It has a strong and diverse portfolio base and an established track record of over a decade. The company has reliable cash flows supported by long-term O&M contracts. Its customers include some of the largest IPPs, PSUs, along with various retail customers.