Shares of Adani Green Energy (AGEL), on Monday, were locked in 5 per cent upper circuit at Rs 1,251, also its new high, on the BSE after Adani Renewable Energy Holding Fifteen Limited (AREHFL), a subsidiary of the company, received Letter of Award (LOA) for 300 MW wind project.
The stock of the Adani group renewable power company surpassed its previous high of Rs 1,245, touched on March 16, 2021. In the past one year, the stock has zoomed 824 per cent, against 75 per cent rally in the S&P BSE Sensex. A combined around 300,000 equity shares have changed hands and there were pending buy orders for around 120,000 shares on the NSE and BSE at 09:29 am.
“AREHFL, a subsidiary of AGEL, had participated in the tender issued by SECI for setting up 1,200 MW ISTS-connected Wind Power Project (Tranche-X) and received the Letter of Award (LOA) to set-up 300 MW Wind Power Project under this tender. The fixed tariff for this project capacity is Rs. 2.77/kWh for a period of 25 years,” AGEL said in a press release.
With this, AGEL’s total renewable capacity now stands at 15,165 MW, of which 3,395 MW renewable plants are operational and 11,770 MW projects are under implementation, it said.
AGEL, a part of Adani Group, has one of the largest global renewable portfolios with 15 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include the National Thermal Power Corporation (NTPC), Solar Energy Corporation of India (SECI) and various state discoms.