15,000 Per Cent Returns: Solar Company entered Into a JV With Winvision Enterprises Pvt Ltd & Bags New Order Worth Rs 480,00,00,000 From NTPC Ltd

The stock gave multibagger returns of 150 per cent in just 1 year and a whopping 15,000 per cent in 5 years.

Refex Renewables & Infrastructure Limited (RRIL) has formed a joint venture with Winvision Enterprises Private Limited to establish Refex Green Energy Limited (RGEL). This strategic partnership aims to tap into India's burgeoning wind energy market by manufacturing, assembling, and operating wind turbine generators (WECs). RGEL will focus on producing key components such as nacelles, drive trains, hub assemblies, rotor blades, towers, and control equipment. This venture is expected to significantly enhance RRIL's market position and contribute to its long-term growth in the renewable energy sector.

The joint venture is anticipated to yield substantial benefits for RRIL, including increased revenue and profitability. Both RRIL and Winvision will invest a total of Rs 139 crore in RGEL, with RRIL holding a majority stake of 75.5 per cent and Winvision owning 24.5 per cent. This strategic alliance positions RRIL as a major player in the Indian wind energy market, enabling it to capitalize on the growing demand for clean and sustainable energy solutions.

Earlier, Refex Green Power Limited, a wholly-owned subsidiary of the company successfully secured a contract to develop a 100-megawatt (MW) solar power project. This significant achievement was made possible through a competitive bidding process initiated by NTPC Limited, a leading Indian power generation company. Under the terms of the contract, Refex Green Power will be responsible for the entire project lifecycle, including design, construction, and operation. The estimated project cost is approximately Rs 480 crore. Upon completion, the solar power plant will generate clean, renewable energy that will be supplied to NTPC Limited under a 25-year power purchase agreement (PPA). The scheduled commissioning date for the project is within 24 months from the effective date of the PPA.

Refex Renewables Infrastructure company has a rich legacy in the silicon industry and was originally formed in 1959 with the establishment of the Monsanto Electronic Material Company (MEMC), a division of the multinational Monsanto Corporation. Initially, its business pioneered and focused on the manufacturing of silicon wafers for semiconductors in the burgeoning electronics industry. The company has a market cap of Rs 415 crore with a 3-year stock price CAGR of 140 per cent.

On Friday, shares of Refex Renewables & Infrastructure hit a 5 per cent upper circuit to Rs 943.45 per share from its previous closing of Rs 899.55 per share. The stock gave multibagger returns of 150 per cent in just 1 year and a whopping 15,000 per cent in 5 years.  Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.