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Adani Green Energy soars with arm commissioning 50 MWac Solar Power Project

Adani Green Energy is currently trading at Rs. 39.65, up by 0.70 points or 1.80% from its previous closing of Rs. 38.95 on the BSE.

The scrip opened at Rs. 39.50 and has touched a high and low of Rs. 39.90 and Rs. 38.90 respectively. So far 3140 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 77.60 on 07-Aug-2018 and a 52 week low of Rs. 22.75 on 02-Jul-2018.

Last one week high and low of the scrip stood at Rs. 41.60 and Rs. 37.60 respectively. The current market cap of the company is Rs. 6091.84 crore.

The promoters holding in the company stood at 86.50%, while Institutions and Non-Institutions held 10.50% and 3.00% respectively.

Adani Green Energy’s Wholly-owned Subsidiary — Adani Green Energy (UP) has commissioned 50 MWac Solar Power Project on May 10, 2019 in the state of Uttar Pradesh. The off-taker for the said Project is Uttar Pradesh Power Corporation (UPPCL). The PPA is for 25 years.

The approved PPA tariff, at present, is Rs 5.07/kWh. The Company has filed an appeal before Appellate Tribunal for Electricity (APTEL) challenging reduction in PPA tariff from Rs 8.44/kWh to Rs 5.07/kWh by Uttar Pradesh Electricity Regulatory Commission (UPERC).

Further, Adani Renewable Energy Park (Gujarat) (AREPGL), a wholly owned Subsidiary of Adani Green Energy had also won bid for setting up 250 MWac wind power project in the Tender issued by Solar Energy Corporation of India (SECI).

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

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