NHPC signs LoI with RRECL

A Letter of Intent (LoI) has been signed between NHPC Limited and Rajasthan Renewable Energy Corporation Limited (RRECL) on 08.02.2022 at Jaipur for development of 10,000 MW Renewable Energy Projects / Parks in the State of Rajasthan in the august presence of Shri Ashok Gehlot, Hon'ble Chief Minister of Rajasthan. The LOI was signed by Shri Y. K. Chaubey, Director (Technical), NHPC Limited and Shri Subodh Agarwal, Additional Chief Secretary, Mines & Petroleum Department & Energy Department and Chairman & Managing Director, RRECL and Chairman, Rajasthan Urja Vikas Nigam Limited.

Under the dynamic leadership of Shri A.K. Singh, Chairman and Managing Director, NHPC, the Company is expanding its Renewable Energy portfolio and has taken up several Renewable Energy Projects under different modes. The signing of above Loi and the support of Govt. of Rajasthan will mark a new beginning to develop 10,000 MW Renewable energy Parks/ Projects in Rajasthan. The Hon'ble Prime Minister in COP-26 had announced that India wi ll go Carbon neutral by 2070 and by 2030 India will generate 500 GW from non-fossil fuel sources which will be 50% of total installed capacity and this initiative of NHPC will be a big milestone in this matter.

Shares of NHPC Limited was last trading in BSE at Rs. 29.75 as compared to the previous close of Rs. 29.55. The total number of shares traded during the day was 297768 in over 1512 trades.

The stock hit an intraday high of Rs. 29.85 and intraday low of 29.60. The net turnover during the day was Rs. 8844471.00.

Source : Equity Bulls

Keywords

NHPC INE848E01016 LoI RRECL RenewableEnergyProjects Rajasthan