24th Feb 2015 09:59
LONDON (Alliance News) - Energy technology company Intelligent Energy Holdings PLC on Tuesday said it has reached an agreement in principle to secure the long-term power management rights for a telecom tower estate in India.
Intelligent Energy said it has reached the deal with Indian telecommunications infrastructure and services company GTL and said the rights would cover a 26,000 tower estate.
The company said the agreement is expected to secure more than GBP1 billion in contracted revenue over the next decade. It will be earnings and cash flow positive immediately, it added.
Shares in the company were up 3.2% to 120.24 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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