Rs 33,245.85 lakh order book: Solar PV power company bags new order worth Rs 139,12,03,660 from Maharashtra State Electricity Distribution Company Ltd
The shares of the company have an ROE of 43 per cent and an ROCE of 40 per cent.
Ganesh Green Bharat Ltd announced that it has been selected as the Solar Power Developer (SPD) for a 9 MW (AC) solar photovoltaic power generating station project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme. This significant achievement marks a milestone in the company's growth and commitment to sustainable energy solutions. The project, awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), is part of the Prime Minister's Kisan Urja Suraksha and Utthaan Yojana (PM-KUSUM) scheme.
The company participated in a competitive bidding process for the project and was awarded the contract based on its technical and financial proposal. The Power Purchase Agreement (PPA) with MSEDCL will be executed within 15 days of the Letter of Award, subject to the submission of a Performance Bank Guarantee. The project is expected to generate approximately 451,687,500 units of electricity over 25 years, contributing significantly to the region's renewable energy capacity worth approx. Rs 139,12,03,660. The fixed tariff of 3.08 per unit will apply for the entire 25-year period, ensuring a stable revenue stream for the company.
Furthermore, the company's order book for ongoing projects stands at Rs 33,245.85 lakh as of today, August 29, 2024, reflecting a substantial increase from the Rs 31,397.57 lakhs reported in the company's prospectus as of March 31, 2024. This significant growth in the order book is a testament to the company's strong market position and its ability to secure large-scale projects.
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About the Company
Founded in 2016, Ganesh Green Bharat Ltd has rapidly evolved from a simple electrical contracting firm into a diversified energy and water solutions provider. With a strong focus on sustainability, the company has expanded its operations to include renewable energy generation, particularly solar power and water supply schemes.
The company's expertise in solar energy extends from residential solar home lights to large-scale solar power plants. As a channel partner with the Ministry of New and Renewable Energy (MNRE), Ganesh Green Bharat has successfully executed numerous solar projects across India, including a significant project involving 16,486 solar home lighting systems in Rajasthan. In addition to its solar energy ventures, the company has also ventured into the water supply sector, offering comprehensive solutions for rural communities, including the design, construction and commissioning of piped water supply systems.
The company has a market cap of Rs 970 crore. The shares of the company have an ROE of 43 per cent and an ROCE of 40 per cent. The stock is up by 14.5 per cent from its 52-week low of Rs 345.05 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.