Advait Greenery Pvt Ltd awarded LoA for new facility

Advait Infratech Limited's wholly-owned subsidiary Advait Greenery Private Limited has been awarded the Letter of Award for setting up manufacturing capacities for Electrolysers in India, with an annual capacity of 100MW, under SIGHT Scheme (Tranche - 1) of the Ministry of New and Renewable Energy.

The terms and conditions outlined in the Letter of Award will be diligently adhered to throughout the execution of the project. The company is committed to achieving the specified manufacturing capacity within the stipulated timeline of 30 months, with the project commencement date set at 09 August, 2026.

The subsidiary will be eligible for an incentive benefit of INR 148 crores over the project 5 period post commissioning the project. This incentive aims to facilitate and support the successful establishment of the manufacturing capacities, contributing to the growth of renewable energy in the country.

The project will be executed with the highest standards of quality, compliance, and environmental responsibility. Regular updates on the progress of the project will be provided as required by regulatory obligations.

Shares of Advait Infratech Ltd was last trading in BSE at Rs. 1311.30 as compared to the previous close of Rs. 1229.05. The total number of shares traded during the day was 97379 in over 4199 trades.

The stock hit an intraday high of Rs. 1350.00 and intraday low of 1254.10. The net turnover during the day was Rs. 127590413.00.

Source : Equity Bulls

Keywords

AdvaitInfratech INE0ALI01010 AdvaitGreenery LOA Electrolysers ManufacturingUnit 100MW SIGHTScheme