4,900 per cent returns: This micro-cap company implements 50 MW solar project from Railway Energy Management Company Limited!
The stock gave multibagger returns of 650 per cent in just 2 years and over 4,900 per cent returns in 3 years.
Refex Renewables & Infrastructure Limited informed that Sherisha Rooftop Solar SPV Four Private Limited (Solar Power Developer-SPD), a step-down subsidiary company of the company, has implemented a 50 MW Solar PV Power Generation Project at Charoda Village, Kumhari, Durg District, Bhilai, Chhattisgarh. The project was awarded by Railway Energy Management Company Limited (a joint venture (JV) company of Indian Railways and RITES Limited) and Power Purchase Agreement (PPA) was signed by South East Central Railway for 25 years.
In this project, a solar plant was designed with four inverter blocks, a 33/220 kV power transformer, and a 220 kV GIS bay at Pooling Sub-Station, injecting power into the central grid. After meeting all requirements, the Western Region Load Dispatch Centre approved the project on June 28, 2023, with power flow starting from July 01, 2023. The power generated will be used by the Indian Railways, resulting in an annual reduction of approximately 1 lakh tons of CO2 emissions and saving around Rs 373 crore over 25 years.
This initiative is part of the Indian Railways' commitment to sustainability and achieving 'Net Zero Carbon Emitter' status by 2030. Refex Group remains dedicated to sustainable development in green energy and continues to support the Government of India's green energy initiatives, including working alongside the Indian Railways.
Refex Renewables & Infrastructure renders EPC services for ground solar power plants, solar water pumps and home systems and rooftops including the sales of electricity. The company has a market cap of Rs 201.15 crore with a 3-year stock price CAGR of 268 per cent.
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Today, shares of Refex Renewables & Infrastructure plunged by 0.46 per cent to Rs 446 per share from its previous closing of Rs 448 per share. The stock gave multibagger returns of 650 per cent in just 2 years and over 4,900 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.