India’s power generation industry is a dynamic sector, boasting an installed capacity of 442.85 GW as of April 2024. The country is the third-largest electricity producer globally, with a projected 8% increase in electricity consumption for 2024, driven by industrial growth and rising temperatures.
Here are the power stocks that signed MoU with Govt of Rajasthan worth over Rs 1.70 lakh crore:-
NTPC LTD
NTPC Limited is primarily involved in the generation and sale of bulk power to State Power Utilities. Its segments include Generation and Others. Its generation segment is engaged in the generation and sale of bulk power to state power utilities.
With a market capitalization of Rs 4.31 lakh crore, the shares were trading at Rs 444.90 per share, increasing around 0.41 percent as compared to the previous closing price of Rs 443.10 apiece.
According to the exchange filing, NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd, signed a Memorandum of Understanding (MoU) with Govt of Rajasthan on 30th September 2024 for the development of 25 GW of Renewable Energy Projects in the State of Rajasthan.
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Tata Power Company Ltd
The Tata Power Company Limited is an India-based integrated power company. The principal business of the Company is the generation, transmission, and distribution of electricity. The Company’s segments include Generation, Renewables, Transmission and Distribution, and Others.
With a market capitalization of Rs 1.55 lakh crore, the shares were trading at Rs 486.95 per share, increasing around 0.88 percent as compared to the previous closing price of Rs 482.70 apiece.
According to the company filing, Tata Power Company Ltd inks an MoU with the Rajasthan Government for an investment plan of ₹ 1.2 lakh crores in Power Distribution, Transmission, and Renewables.
Moreover, the MoU aims to support Rajasthan’s transformation into a power surplus state by providing 24/7 clean, affordable, and reliable power supply through investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging.
NHPC Ltd
NHPC Limited is an India-based company that is primarily involved in the generation and sale of bulk power to various power utilities. The Company’s other business activities include project management/construction contracts/consultancy assignment services and trading of power.
With a market capitalization of Rs 95,608.64 crore, the shares were trading at Rs 94.91 per share, increasing around 0.26 percent as compared to the previous closing price of Rs 94.93 apiece.
According to the company filing, NHPC Limited has signed a MoU with Govt. of Rajasthan on 30.09.2024 for “Development of Pumped Storage Projects, Renewable Energy (Solar/ Floating Solar/ Wind) Projects and Battery Energy Storage System in the State of Rajasthan, with proposed estimated investment of Rs.50,000 Crores
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Written by:- Abhishek Singh
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