Inox Green Energy Services announced that its subsidiary I-Fox Windtechnik India has won an order from NLC India, a Navratna PSU of Govt of India, for the O&M of 51MW WTGs located in the state of Tamil Nadu.

The scope of the contract comprises comprehensive O&M, including power evacuation system, for a period of 5 years with a revenue realisation of about Rs 40 crore during the contract period.

SK Mathu Sudhana, the CEO of IGESL, commented, "LoA from one of the largest PSUs is an important milestone in the growth journey of IGESL as well as of our subsidiary I-Fox Wind. The order demonstrates the faith which our clients have in our services, and endorses the capabilities which we have built over the years. We are progressing towards our goal of reaching a WTG O&M portfolio of 6GW by FY26, through a mix of organic and inorganic growth."

Inox Green Energy Services is one of the major wind power O&M service providers within India with a fleet size of >3 GW. The company is engaged in the business of providing long-term O&M services for wind projects.

On a consolidated basis, Inox Green Energy Services reported net profit of Rs 2.62 crore in Q1 June 2023 as against net loss of Rs 11.58 crore in Q1 June 2022. Net sales rose 3.38% YoY to Rs 63.88 crore in Q1 June 2023.

Shares of Inox Green Energy Services rose 1.79% to Rs 66.98 on 18 August 2023.