Mumbai37 minutes ago
- Copy link
Reliance Power 500 MW (MW) project will develop in a 50:50 joint venture in collaboration with Bhutan company. It will cost around 2000 crores.
Anil Ambani’s company Reliance Power’s share rose about 19% on Friday (May 23) on Friday. The company’s stock opened at Rs 45 in early trade and then made a day-high of Rs 53.10. However, the company’s stock is currently trading at Rs 51.33 with a gain of over 15%.
In fact, 4 days ago, Reliance Power had a deal to make Bhutan’s biggest solar power project. Since this news, the company’s shares are seeing this boom. In the last 5 days, the company’s stock has climbed 11%, 18% in a month and 48% in six months. At the same time, the company’s stock has climbed around 95% in a year. The company’s market cap is 21.18 thousand crores.
Reliance Power will make Bhutan’s largest solar power project
This project of Reliance Power 500 MW (MW) will develop in a 50:50 joint venture in collaboration with the Bhutan company. It will cost around 2000 crores. This project will be the biggest private sector foreign direct investment (FDI) in the solar sector of Bhutan.
Reliance Power has signed a term sheet with Bhutan -based Green Digital Private Limited (GDL) owned by Bhutan -based Druk Holding and Investments Limited (Dhi). This project will be completed in a phased manner in the next 24 months.
Reliance Power is a major company in power generation and distribution sector. It is part of the Reliance Group led by Anil Ambani.
Electricity will be sold to green digital
The company said in a statement, “Reliance Power’s Total Clean Energy Pipeline is on 2.5 GW Peak (GWP) in the solar segment, which makes it India’s largest company in the Integrated Solar and Battery Energe System System (BESS) segment.”
The company said that electricity will be sold to green digital through a long-term agreement. Reliance Power has started searching for contractors through a competitive bidding process to start the project work.
Recently, the subsidiary company received solar energy order
Reliance NU Energe, a subsidiary of Reliance Power, had won the largest allocation in SJVN’s tariff -based competitive bidding process in the past. The company received the allocation of 175 MW/700 MWH battery energy stores system with 350 MW solar production capacity.
Competitive bidding process of government company SJVN Limited is a structured and transparent method. It is used to purchase goods, services or developers for renewable energy projects such as solar, wind-lore hybrid or hydropower projects.
The historic solar investment in Bhutan, reflects the strategic focus on the expansion of its renewable energy portfolio of the Reliance Group.
Reliance Power Profit for ₹ 126 crore in the fourth quarter
The company recorded a consolidated net profit of ₹ 126 crore for the January-March quarter of FY 25. In the same quarter of last year, the company had a loss of ₹ 397.56 crore. The company’s profit has increased due to the reduction in expenses.
The total income during the quarter declined to Rs 2,066 crore as compared to Rs 2,193.85 crore in the same period last year. Nevertheless, a huge reduction of Rs 2,615.15 crore to Rs 1,998.49 crore in total expenditure helped the company in the profit.
Reliance Power is part of Anil Ambani -led group
Reliance Power is a major company in power generation and distribution sector. It is part of the Reliance Group led by Anil Ambani. Its portfolio includes thermal (coal and gas), renewable (solar, wind and hydro) and battery energy storage system (BESS).
Source link
[ad_3]
