Insolation energy jumps on bagging LoI worth Rs 134 crore under PM Kusum Scheme
Insolation energy is currently trading at Rs 281.70, up by 2.50 points or 0.90% from its previous closing of Rs 279.20 on the BSE.
The scrip opened at Rs 294.00 and has touched a high and low of Rs 294.95 and Rs 278.20 respectively. So far 162000 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 1 has touched a 52-week high of Rs 475.00 on 08-Nov-2024 and a 52-week low of Rs 139.10 on 20-Mar-2024.
Last one week high and low of the scrip stood at Rs 294.95 and Rs 248.45 respectively. The current market cap of the company is Rs 6212.57 crore.
The promoters holding in the company stood at 66.22%, while public held 33.78% stake in the company.
Insolation Energy has been awarded Letter of Intent (LOI) for design, survey, supply, installation, testing and commissioning including operation and maintenance for 25 years from COD of grid connected solar power plants through RESCO Mode, its associated line 11 KVA line to connect the plant with various 33/11 KVA sub-station and remote monitoring system (RMS) of solar power plants under PM Kusum Scheme.
The first LoI has been received from Ajmer Vidyut Vitran Nigam for 6 sites, the total SPV plants capacity shall be 9 MW and the final levelized tariff shall be Rs 2.880 per unit. The second LOI has been received from Ajmer Vidyut Vitran Nigam for 21 sites, the total SPV Plants capacity shall be 28 MW and the final levelized tariff shall be Rs 3.020 per unit, and The third LoI has been received from Jaipur Vidyut Vitran Nigam for 1 site, the total SPV Plant capacity shall be 1.43 MW and the final levelized tariff shall be Rs 2.880 per unit.
The contract will lead to an investment of around Rs 134 crore (including GST) in setting up the 38.43 MW Solar Power Project.
Insolation Energy is a national solar energy provider and has set up a state of the art fully automatic solar PV module manufacturing plant at Jaipur.
