
Shares of Indian Renewable Energy Development Agency Ltd. (IREDA), SJVN Ltd., and GMR Power and Urban Infrastructure Ltd. surged today following the announcement of a Joint Venture Agreement for the development of the 900 MW Upper Karnali Hydro-electric Project in Nepal. This agreement is a landmark in cross-border renewable energy collaboration and aims to promote sustainable energy solutions in the region.
Key Stock Details:
IREDA
- Current Price: ₹208.10 (+1.91%)
- Previous Close: ₹204.19
- Day Range: ₹203.50 – ₹212.55
- Market Cap: ₹559.38B
- P/E Ratio: 36.48
- 52-Week Range: ₹114.30 – ₹310.00
- Avg Volume: 14.33M
SJVN Ltd.
- Current Price: ₹99.07 (+1.86%)
- Previous Close: ₹97.26
- Day Range: ₹96.41 – ₹99.72
- Market Cap: ₹388.74B
- P/E Ratio: 39.57
- 52-Week Range: ₹90.16 – ₹161.45
- Avg Volume: 9.32M
GMR Power and Urban Infra
- Current Price: ₹121.50 (+4.18%)
- Previous Close: ₹116.62
- Day Range: ₹119.00 – ₹122.45
- Market Cap: ₹86.75B
- P/E Ratio: 4.84
- 52-Week Range: ₹38.60 – ₹169.25
- Avg Volume: 2.03M
The Agreement:
The tripartite agreement, signed in New Delhi, involves IREDA, SJVN, and GMR Energy in partnership with the Nepal Electricity Authority (NEA). The 900 MW project will operate under the Build-Own-Operate-Transfer (BOOT) model for a 25-year term from its Commercial Operation Date (CoD). The initiative emphasizes regional energy security and the advancement of renewable energy infrastructure.
IREDA CMD Pradip Kumar Das remarked, “This agreement represents a significant milestone in advancing renewable energy development and fostering cross-border energy collaboration. It aligns with our collective vision for sustainable energy solutions in South Asia.”
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