Ravindra Energy Ltd receives LOA from MSEDCL

Ravindra Energy Limited (REL) has received a Letter of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL), to develop and operate 100 MW(AC) of decentralized feeder level PV solar projects. This Letter of Award has been issued under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY) of the Government of Maharashtra.

The key highlights are as below:

1. 100 MW projects are spread across 19 substation of MSEDCL.
2. MSEDCL will enter into a 25 year Power Purchase Agreement (PPA) with REL.
3. Average PPA tariff is Rs. 3.08 per unit.
4. The projects will be eligible for central financial assistance of Rs. 1.05 crore per MW under the KUSUM C Scheme of the Central Government.

Shares of Ravindra Energy Ltd was last trading in BSE at Rs. 82.48 as compared to the previous close of Rs. 82.75. The total number of shares traded during the day was 37058 in over 343 trades.

The stock hit an intraday high of Rs. 83.10 and intraday low of 80.20. The net turnover during the day was Rs. 3011928.00.

Source : Equity Bulls

Keywords

RavindraEnergy INE206N01018 LOA MSEDCL