Solar-Wind Power Company Enters into Power Purchase Agreement with Bhojraj Renewables Energy Pvt Ltd
The stock is up by 36 per cent from its 52-week low of Rs 119 per share.
CESC Limited has entered into a Power Purchase Agreement for a 300 MW Wind Solar Hybrid Power Project at a tariff of Rs. 3.81 per kWh with Bhojraj Renewables Energy Private Limited (a subsidiary of the Company) for a period of 25 years. The said agreement is subject to the approval of the West Bengal Electricity Regulatory Commission (WBERC) and shall come into force on the date of approval of WBERC.
About the Company
CESC Ltd is a leading Indian electrical utility company with a comprehensive portfolio spanning generation, transmission and distribution. It operates in West Bengal, serving over 3.4 million consumers. CESC owns and operates thermal power plants, including Budge Budge Generating Station and Southern Generating Station, with a combined capacity of 885 MW. Additionally, it has commissioned the Haldia Thermal plant (600 MW) and has a presence in renewable energy through solar power plants in Gujarat and Tamil Nadu. The company's distribution network extends across Kolkata, Greater Noida, Rajasthan and Chandigarh, encompassing EHV, HV and LV lines, substations and distribution stations. CESC also holds a joint venture with Noida Power Company Limited, securing exclusive power distribution rights for the Kolkata and Greater Noida regions.
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The company has a market cap of over Rs 20,000 crore and has been maintaining a healthy dividend payout of 44.1 per cent. The stock is up by 36 per cent from its 52-week low of Rs 119 per share. Investors should keep an eye on this wind power stock.
Disclaimer: The article is for informational purposes only and not investment advice.