Inox Green Energy arm bags LoA from NLC India – EQ
In Short : Inox Green Energy’s subsidiary has secured a Letter of Award (LoA) from NLC India, signaling a significant milestone in advancing renewable energy projects and fostering sustainability initiatives.
In Detail : Inox Green Energy Services (IGESL) announced that its subsidiary, I-Fox Windtechnik India received letter of award (LoA) from NLC India (NLCIL) for restoration of 33 wind turbine generators (WTGs) worth Rs 39.5 crore.
The scope of the contract comprises supply of materials/spares and other activities for the restoration of the 33 WTGs (each 1.5 MW) of NLCILs wind power plant located at Tenkasi District in Tamil Nadu.
The project is to be completed within 8 months and has a revenue realisation of Rs 39.5 crore.
SK Mathu Sudhana, CEO of IGESL, on this occasion, remarked, “We are delighted to receive another order from NLC India, a Navratna PSU, after securing the contract for comprehensive O&M of 51MW WTGs for 5 years during the last year.
The company reported a consolidated net loss of Rs 1.50 crore in Q3 FY24 as against a net profit of Rs 4.70 crore in Q3 FY23. Revenue from operations declined 16.26% YoY to Rs 59.96 crore during the period under review.
The scrip fell 0.33% to currently trade at Rs 122 on the BSE.
