Rs 3,650 crore order win: This multibagger power sector stock secures 300 MW wind-solar hybrid project!
Shares of the company gained more than 120 per cent in the last one year.
Torrent Power Limited secured a contract from its own Distribution Unit to set up a 300 MW wind-solar hybrid power project. This domestic project involves supplying 300 MW of renewable energy at a tariff of Rs 3.65 per kWh. To meet a guaranteed annual capacity utilization factor (CUF) of 50 per cent, Torrent plans to install a total wind and solar capacity of 480 MW, with wind power accounting for 2/3rds of the generation mix. The project is expected to be commissioned within 24 months of the Power Purchase Agreement (PPA) and will operate for 25 years. The project is worth Rs 3,650 crore.
Recently, the company secured significant wins on both the renewable and conventional energy fronts, solidifying its position as a key player in the Indian power sector. TPL emerged victorious in a competitive bidding process, receiving a Letter of Award from Railway Energy Management Company Limited (REMCL) to establish a 100 MW Round-The-Clock (RE-RTC) power project. This project, valued at approximately Rs. 2,700 crores, will involve installing 325 MW of renewable capacity and is expected to be commissioned within 24 months.
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Torrent Power Limited is engaged in the power generation, transmission and distribution business. It is a distribution licensee in Ahmedabad, Gandhinagar, Surat, Dahej SEZ, Dholera SIR, Dadra, Nagar Haveli, Daman and Diu and the distribution franchisee for Bhiwandi, Agra and SMK (Shil, Mumbra, Kalwa). The stock has delivered multibagger returns of over 180 per cent return in the last three years.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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