NHPC and GEDCOL sign agreement for JV to develop floating solar power projects

The Promoters Agreement has been signed on 04.01.2022 between NHPC Limited and Green Energy Development Corporation of Odisha Limited (GEDCOL) for formation of JV Company for development of 500 MW floating Solar Power Projects in various water reservoirs in the State of Odisha.

As per the agreement both the companies will jointly establish a Company under the name of "Odisha Solar Power Development Company Limited" or any other name as may be approved by Registrar of Companies upon the terms & conditions contained in Promoters Agreement, for implementation of 500 MW Floating Solar Power Projects in Odisha and explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha State and plan such other Solar Projects as a developer or under any other arrangement as may be decided by the JVC from time to time as per GoI directions.

Shares of NHPC Limited was last trading in BSE at Rs. 32.00 as compared to the previous close of Rs. 31.50. The total number of shares traded during the day was 1441614 in over 5171 trades.

The stock hit an intraday high of Rs. 32.50 and intraday low of 31.65. The net turnover during the day was Rs. 46232177.00.

Source : Equity Bulls

Keywords

NHPC INE848E01016 JVCompany GEDCOL FloatingSolarPowerProjects Odisha