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Adani Green wins tender for wind generation project Stock gains 3%

Shares of Adani Green Energy were trading 3% up in Wednesday’s late morning trade after winning a tender for wind generation project floated by Solar Energy Corporation of India (SECI).

The company has won a tender for setting up 300MW wind generation project to be installed anywhere in India and connected through Inter State Transmission System (ISTS), the company said in a press note to the exchanges on Tuesday after market hours.

“The tender was floated by Solar Energy Corporation of India (SECI) and which shall also be the PPA counterparty. The fixed PPA tariff is Rs2.76 per kWh for a period of 25 years,” said Adani in a press release.

This project is expected to be commissioned by the second quarter of FY21, the company added.

With this project, portfolio of the company’s renewable generation capacity in India now stands at 3.50GWac. Of the total ~1.96GWac renewable generation capacity is in operational stage while, balance 1.54GWac is at a development stage, Adani said.

Adani Green Energy share price is currently at Rs46.30, up by Rs1.45 or 3.23% from its previous closing of Rs44.85 on the BSE.

The scrip has opened at Rs46.50. It has touched a high and low of Rs47.05 and Rs45.60, respectively. So far 3,89,572 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs7,014.60cr.

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