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Adani Group company Adani Green Energy Limited (AGEL) has entered into a power purchase agreement with Solar Energy Corporation of India (SECI) for solar energy. The deal is for supply of 1799 MW of solar power. Adani Green Energy said this in an exchange filing on Monday. The contract for solar power is for a period of 25 years. Along with this, Adani Green Energy has completed the power-offtake tie-up for the 8000 MW manufacturing linked solar tender awarded in June 2020.
Setting up of Photovoltaic Cell and Module Manufacturing Plant
Adani Green Energy Limited (AGEL) has set up a 2 GW photovoltaic (PV) cell and module manufacturing plant with operational plant at Mundra, Gujarat. Mundra Solar Energy Limited (MSEL), an associate company of Adani Green Energy, operates the manufacturing plant and has an annual capacity of 2 GW. Adani Green Energy Limited holds 26% stake in Mundra Solar Energy Limited. The stake is held by its wholly owned company Adani Renewable Energy Holdings for Limited. Adani Green Energy has now signed a power purchase agreement of 19.8 GW.
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Shares of Adani Green jumped over 3500 percent
Shares of Adani Green Energy Limited have gained 3583% in the last 5 years. On December 28, 2018, the shares of the company were Rs. was at 41.65. Share of Adani Green Energy Limited on 22 December 2023 Rs. closed at 1533.95. Shares of Adani Green Energy Limited have gained 915% in the last 4 years. Shares of Adani Green Energy have gained nearly 59% in the last 6 months. On 26 June 2023, the shares of the company were Rs. 967.60, which on 22 December 2023 was Rs. closed at 1533.95. The company’s stock touched a 52-week high of Rs. is 2185.30. At the same time, the company’s shares hit a 52-week low of Rs 439.35.
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