Adani New Industries Ltd receives LoA from SECI for new manufacturing capacity

Adani New Industries Limited, a wholly owned subsidiary of Adani Enterprises Limited, has received Letter of Award(LoA) from Solar Energy Corporation of India ("SECI") on 11th January 2024 at 7.59 p.m. for setting up manufacturing capacity for Electrolysers in India under Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I).

The project is to set-up Electrolysers manufacturing capacity of 198.5 MW/annum in India under Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I) - Production Linked Incentive Scheme for Electrolyser Manufacturing, with-in a period of 30 month from the date of Letter of Award (LoA).

To set up Alkaline electrolysers facility under bucket-II (Indigenous technology)

Maximum incentive to be allocated over the period of 5 years from scheduled commissioning date is Rs.293.78 Crores.

The grant of production linked incentive over five-year period from the scheduled commissioning date for setting up manufacturing capacities for Electrolysers in India under Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I) - Production Linked Incentive Scheme for Electrolyser Manufacturing.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 3104.25 as compared to the previous close of Rs. 3080.45. The total number of shares traded during the day was 89005 in over 5070 trades.

The stock hit an intraday high of Rs. 3124.45 and intraday low of 3070.00. The net turnover during the day was Rs. 275858320.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 AdaniNewIndustries LOA SECI Electrolysers India