Adani Renewable Energy
Gautam Adani has got another big deal. In fact, two companies of Adani Group – Adani Power and Adani Renewable Energy will supply about 6,500 MW of power to Maharashtra State Electricity Distribution Company Limited (MSEDCL). Adani Power Limited said in a stock exchange filing that it has signed an agreement with MSEDCL for the supply of about 1,500 MW of power.
Adani Power Limited has entered into a power supply agreement (PSA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supply of 1,496 MW (net) for a period of 25 years, it said. Adani Green Energy Limited (AGEL) said in another information given to the stock market that its wholly owned subsidiary Adani Renewable Energy Fifty Five Limited has entered into a power purchase agreement with MSEDCL for the supply of about 5,000 MW of solar energy. Is.
Market cap of Adani companies increased by Rs 39,000 crore
The market capitalization (market cap) of the Adani Group of companies led by industrialist Gautam Adani has increased by more than Rs 39,000 crore this week to about Rs 15.5 lakh crore. According to stock market data, the market capitalization of nine of the 10 listed companies of this group, ranging from ports to energy, has increased in three days of trading on the back of strong financial and operating results. Group flagship company Adani Enterprises Limited’s capitalization increased the most by Rs 23,268 crore, while the valuation of Adani Ports & SEZ increased by Rs 9,440 crore. Meanwhile, Adani Power Limited was the only company whose market capitalization declined. The valuations of other group companies – power transmission company Adani Energy Solutions Ltd, clean energy company Adani Green Energy Ltd, city gas distributor Adani Total Gas Ltd, Adani Wilmar Ltd, media firm NDTV and cement companies – ACC and Ambuja Cement increased.
Tata Power will invest Rs 5,666 crore
The board of directors of Tata Power has approved an investment of Rs 5,666 crore for setting up a 1,000 MW pumped storage hydropower project. The company gave this information on Wednesday. Tata Power said in a stock exchange filing that it aims to set up the project in Bhivpuri in a period of 44 months. Regarding the mode of financing, the company said that 75 per cent will be financed through debt and 25 per cent through equity financing. The total existing capacity of the company is 15.2 GW. “The Pumped Storage Hydropower Project (PSP) will facilitate energy transfer and contribute to decarbonisation of the industry,” the company said.
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