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Inox Green Energy wins order worth Rs 40 crore from NLC India

Aug 21, 2023

By: BlinkX Research Team

Inox Green stated in a filing to the stock exchanges that its subsidiary I-Fox Windtechnik had won the order from the state-run NLC India company for the operation and maintenance of its 51MW WTG portfolio in Tamil Nadu.

For a duration of five years, the order's scope includes all operations and maintenance (O&M), including a power evacuation system, with a revenue realization of Rs 40 crore (including taxes) throughout the course of the contract.

"We are progressing towards our goal of reaching a WTG O&M portfolio of 6GW by financial year 2026, through a mix of organic and inorganic growth," SK Mathu Sudhana, CEO of Inox Green Energy Services, said.

One of the top providers of operations and maintenance services for wind power in the nation, Inox Green, a part of the Inox GFL Group, has a fleet of about 3 GW. NLC India, a Navratna public sector initiative of the Indian government, offers long-term O&M services for wind projects.

Inox Green stated in December 2022 that it had paid an unknown sum to acquire a private company that offered operation and maintenance services for wind turbines. This was Inox Green's first-ever acquisition.

The company agreed to a term sheet for acquiring a major portion of the O&M Wind Services provider, which mostly serves South India with a 230+ MW fleet.

Source: Media Reports