Stock Report

Amara Raja Infra Wins Greenko's 700MWp Solar Project

Posted On : 2024-04-19 23:04:00( TIMEZONE : IST )

Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, has achieved a significant milestone in the renewable energy sector by securing a solar BoS project of 500MW/700MWp from Greenko.

This project, spanning across a 2,200-acre site near Uyyalavada Town, Kurnool District, Andhra Pradesh, marks ARIPL's largest capacity solar project to date, establishing itself among leaders in the industry. This landmark project contributes to ARIPL's order book, which totals Rs 1,516 crore for Q4 of FY'24.

The project scope encompasses Engineering, Procurement and Construction of the entire Balance of System (BoS) for the 700 MWp project, which is part of Greenko's Integrated Renewable Energy Project, conceived as the world's first and largest Gigawatt scale project with solar, wind and pumped storage components.

Greenko is a leading renewable energy company with 6.8 GW+ operating capacity constituting solar, wind, and hydro power projects across India.

"This project from Greenko is a testament to tireless and dedicated efforts by our team in the renewable energy space. We are proud that Greenko among other noteworthy customers continue to choose Amara Raja as a preferred partner. We have been able to scale significantly in a short amount of time, aided predominantly by the level of credibility that we enjoy with our customers," said Vikramadithya Gourineni, Executive Director, ARIPL.

"Over the past many years, we have proven ourselves as a trustworthy partner with high integrity that underscores our unwavering commitment to delivering critical projects as per customer timelines. This project from Greenko is an opportunity for us to prove our worth once again in the ever-evolving solar space," added Dwarakanadha Reddy, Business Head, Amara Raja Infra (Power).

This milestone achievement adds to ARIPL's impressive revenue of Rs 1,756 crore for FY'24.

Shares of Amara Raja Batteries Limited was last trading in BSE at Rs. 1005.40 as compared to the previous close of Rs. 993.00. The total number of shares traded during the day was 232813 in over 6337 trades.

The stock hit an intraday high of Rs. 1035.00 and intraday low of 966.15. The net turnover during the day was Rs. 234402508.00.