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 7.1k Views
Listen icon

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.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
52-Week High Stocks: Bharti Airtel, Mahindra & Mahindra, and More; Do You Own Any?

Bharti Airtel has been in the spotlight after announcing a definitive agreement with Axiata Group's Dialog to merge its operations in Sri Lanka.  This has led to Airtel’s stock to surge to a fresh 52-week high, reaching a price of ₹1280.0.

Dynacons Systems & Solutions Share Price Soars 83% in 15 Sessions, Surges 340% in a Year

Dynacons Systems & Solutions, an Indian-based IT company, experienced a substantial surge in its share value with shares rising 83.50% in 15 trading sessions and 340% in one year, driven by heightened investor sentiment follow

8 FPIs Settle Alleged Adani Stock Violations with SEBI

More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator SEBI, said people familiar with the matter.