Stocks up marginally of Suzlon Energy partners
Suzlon Energy announced a joint venture with AMP Solar for the
development and construction of a 15 MW solar PV project located at
Achampet, Mahaboobnagar District, Telangana.
Suzlon Energy announced a joint venture with AMP Solar for the development and construction of a 15 MW solar PV project located at Achampet, Mahaboobnagar District, Telangana.
According to the contract signed between Suzlon Group and the AMP Solar
on December 21, 2016, the AMP Solar shall acquire a 49% stake in Rudra
Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for
executing this project. AMP Solar has the option to acquire the balance
of the 51% stake in the SPV in the future in accordance with tlie
relevant rules and regulations.
The off taker of the SPV project will be the Telangana State Southern
Power Distribution Company Limited (TSSPDCL). Suzlon will be responsible
for project commissioning and to provide comprehensive operation and
maintenance services for a period of 25 years. The project is expected
to be commissioned in the financial year 2017 (FY17).
Suzlon won solar projects of 210 MW in Telangana through a competitive
bidding process and the PPAs for the same were signed in February, 2016.
These include one project of 100 MW, one of 50 MW and four projects of
15 MW each.
Pinaki Bhattacharyya, CEO, AMP Solar (India), said,
"Our vision is to become the leading global solar energy platform by
creating geographically focused, structured portfolios of assets that
have attractive risk-adjusted return profiles. And this partnership has
been yet another step towards our vision. Indian market is presently
booming for the renewable industry and this shall be beneficial to our
investors and stakeholders. We are happy to be associated with Suzlon
and shall work in synergy towards our common goal of reducing and
bringing the carbon footprint down."
J.P. Chalasani, Group CEO, Suzlon, said, "The global
renewable energy sector is witnessing a huge momentum. We are glad to
partner with AMP Solar. For Suzlon, this project is a contribution
towards our commitment for reducing the carbon footprint and
transitioning of renewables from alternate to mainstream source of
energy. We look forward to work collaboratively with AMP Solar and
contribute towards promoting green energy."
Suzlon Energy Ltd is currently trading at Rs 14.06, up by Rs 0.06 or 0.43% from its previous closing of Rs 14 on the BSE.
The scrip opened at Rs 14.05 and has touched a high and low of Rs 14.2 and Rs 14.05 respectively. So far 2190592 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 7034.16 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high
of Rs 23.25 on 05-Jan-2016 and a 52 week low of Rs 12.47 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs 14.49 and Rs 13.77
respectively.
The promoters holding in the company stood at 20.95 % while
Institutions and Non-Institutions held 22.58 % and 56.23 % respectively.
The stock is currently trading below its 200 DMA.
If you want to more information regarding the Stock cash tips, Stock tips, Nifty tips, Commodity tips, equity tips call @8109999233 or fill form http://equityresearchlab.com/Freetrial.php please drop your number for profit calls...?
Are black cash hoarders smuggling new notes to Bangladesh?
ReplyDeleteStock Market Advisory
Best Commodity Tips