Multibagger Power stock engaged in the generation, transmission, and distribution of power, jumped 6 percent in the day’s trade, upon receiving a Letter of Award for setting up a 150 MW Grid-Connected Wind Solar Hybrid Project with an investment of Rs. 1,825 Crores.
With a market capitalization of Rs. 69,065 Crores, the shares of Torrent Power Limited were trading at Rs. 1,438, up 5.82 percent from its previous day’s close price of Rs. 1,357.95.
Torrent Power Limited has received a Letter of Award from the company’s distribution unit for setting up a 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Project under the Greenshoe option with an investment of Rs.1,825 Crores
The project shall be commissioned within 24 months from the power purchase agreement and the Contract period shall be 25 years from the Commissioning of the Project.
The annual CUF (Capacity Utilization Factor) shall not be less than 50 percent for any of the years during the term of the PPA & rated power capacity of wind and solar shall be in the ratio of 2:1 and for meeting the 50 percent CUF requirement, the Company plans to install 245 MW of wind and solar capacity against contracted capacity of 150 MW.
Torrent Power is one of the largest companies in India’s power sector with a presence across the entire value chain of generation, transmission, and distribution of power.
Torrent Power Limited has a Thermal Power Installed capacity of 3,092 MW, Solar 828 MW, Wind 1,345 MW and it has transmission lines of 355 km 400 kv & 128 km of 220 kv and it has distribution in Ahmedabad/Gandhinagar, Surat, Dahej SEZ, Dholera SIR & DD/DNH, Bhiwadi, Agra, and SMK.
Its revenue from operations declined by 1.19 percent from Rs. 6,443 Crores in Q3FY23 to Rs. 6,366 Crores in Q3FY24, accompanied by profits of Rs. 695 Crores to Rs. 374 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
