This renewable power generation company gets approval to invest Rs 6,330 crore

 This renewable power generation company gets approval to invest Rs 6,330 crore

by 5paisa Research Team Last Updated: Dec 15, 2022 - 06:23 pm 6.5k Views

The company will set up two plants in Andhra Pradesh.

Andhra Pradesh State Investment Promotion Board (SIPB) has given approval for 1,600 megawatts of pumped hydro storage power projects by Adani Green Energy which will invest Rs 6,330 crore providing direct employment to over 4,000 people. The company will set up a 1,000 MW plant in Pedakota of Alluri Sitarama Raju district, and a 600 MW plant at Raiwada in the Anakapalli and Vizianagaram districts.

Last week, the company commissioned its third wind-solar hybrid power plant at Jaisalmer in Rajasthan. The combined operational generation capacity of this newly commissioned hybrid power plant is 450 MW. The plant has Power Purchase Agreements (PPA) with SECI at Rs 2.67/kwh for 25 years.

Adani Green Energy Ltd is a part of Adani Group. Adani Green is engaged in the business of renewable power generation and other ancillary activities. The company recently announced that it became the World’s Largest Wind-Solar Hybrid Power Developer. The company has a partnership with a French company, TOTAL SA.

Today, the stock opened at Rs 2014.10, with a high and low of Rs 2034.35 and Rs 2012.10. Today it closed the trading session at Rs 2024.60, up by 0.29%.

In the last six months, the shares of the company have given 18.05% returns and on a YTD basis, the stock has given 49.97% returns.

The stock has a 52-week high of Rs 3048.00 and a 52-week low of Rs 1283.00. The company has a ROCE of 7.86% and an ROE of 42.4% with a market capitalization of Rs 3,20,703.22 crore.

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