Adani Green Energy rises 6% on LoA for power projects

Projects are expected to be commissioned by Q4FY 2021.

The share price of Adani Green Energy rose 6 percent in the early trade on June 20 after it received letters of award (loA) setting up wind-solar hybrid power projects.


Adani Renewable Energy Park (Gujarat), a wholly-owned subsidiary of Adani Green Energy had won bids for setting up 600 MWac ISTS-connected wind-solar hybrid power projects in a tender issued by Solar Energy Corporation of India. The company has received letters of award from SEC I for the same, as per the company's press release.

The fixed PPA tariff is Rs 2.69/ kWh for a period of 25 years.

Projects are expected to be commissioned by Q4FY 2021, it added.

With this, the company's portfolio of renewable generation capacity in India stands at 5.16 GWac with 2.02 GWac operational projects and balance 3.14 GWac in the development stage.

At 09:30 hrs Adani Green Energy Limited was quoting at Rs 40.75, up to Rs 1.10, or 2.77 percent on the BSE.

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