NLC India Renewables Ltd signs PPA with SJVN Ltd for 200 MW wind power project

NLC India Renewables Limited (NIRL), a 100% subsidiary of NLC India ltd. (NLCIL). has signed a long term Power Purchase Agreement (PPA) with SJVN Limited (SJVNL) for 200 MW Wind Power Project.

The agreement was signed by representatives of NIRL and SJVNL in the presence of Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLCIL & Chairman of NIRL, Shri Bhupender Gupta, Chairman & Managing Director, SJVN Limited, Director (Finance), NLCIL, Director (P&P), NLCIL and Director (Personnel), SJVNL.

The PPA was signed in Chennai as part of SJVN's 600 MW ISTS-connected Wind Power Projects (Wind-2 Tranche) awarded through a Tariff-Based Competitive Bidding.

The project is expected to generate approximately 500 Million Units of green energy per year.

The signing of this PPA also reflects the strong collaboration between two leading Central Public Sector Enterprises, aimed at accelerating India's renewable energy deployment while ensuring long-term energy security.

Shares of NLC India Limited was last trading in BSE at Rs. 240.65 as compared to the previous close of Rs. 242.95. The total number of shares traded during the day was 33050 in over 1028 trades.

The stock hit an intraday high of Rs. 243.00 and intraday low of 239.00. The net turnover during the day was Rs. 7955664.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 ElectricUtilities NLCIndiaRenewables PPA SJVN