HG Infra shares surge 2% on solar business project win worth Rs 534 Cr

HG Infra Engineering Ltd witnessed a 2% surge in its shares after the company announced that it had received a Letter of Award for a Rs 534 crore solar business project, marking a significant stride in the realm of solar power integrated with farming.

H.G. Infra Engineering Limited, in consortium with Stockwell Solar Services Private Limited, clinched the Letter of Award from Jodhpur Vidyut Vitran Nigam Limited for a noteworthy solar project.

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The project comprises development, survey, supply, installation, test beginning, commissioning (including a twentyfive year operation management agreement for contracted solar energy power through REC Services Company in Ltd.; compliance with all countries’ standards for electricity generation by any means except hydropower and likely to be even more than one REACHES market spot). Besides, it also inherits relevant infrastructure including an entire Remote Monitoring System (RMS).

The construction / development cost of this tentative initiative is estimated to be a fee of INR 534 Crore, including GST.

As of 12:40 pm, shares of HG Infra Engineering Ltd were trading 2.11% higher at ₹917.65 on the NSE.