Shares of Inox Green Energy Services Ltd soared 6% on Monday, 19 May, after the firm announced that it had secured agreements to provide operation and maintenance (O&M) for 285 MWp of solar installations.

The company stated that it inked deals with two of India’s largest renewable energy companies.  The projects are spread across several sites.

With this arrangement, Inox Green’s solar O&M portfolio has reached 1 gigawatt (GW).

SK Mathu Sudhana, CEO of Inox Green, said, “We continue to rapidly add solar assets to our portfolio under O&M, and we are delighted to announce that we have secured an additional 285 MWp across multiple sites.”

In April, Inox Green Energy signed an agreement to offer O&M services for 675 MWp of solar projects owned by a renowned Indian renewable energy firm.

Last month, reports claimed that Inox Clean Energy may submit a draft red herring prospectus (DRHP) with capital markets regulator SEBI in the coming weeks for their Rs 5,000-crore IPO under the secret route.

At 1:51 pm, the shares of Inox Green were trading 3.39% higher at Rs 153.24 on NSE.

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