Adani Green Energy share rises 4% after firm commissions 100 MW solar plant in Gujarat

Adani Green Energy share rose nearly 4% in early trade after the firm commissioned a 100 megawatt (MW) solar power project at Khirsara in Gujarat. Adani Green Energy stock has gained 3.78% in the last 4 days. Adani Green share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock touched an intraday high of Rs 1090.7 rising 3.74% against previous close of Rs 1,051.35.

Market cap of the firm rose to  Rs 1.68 lakh crore.

The large cap share has gained 547.21% in one year and since the beginning of this year.

However, in one month, the share has fallen 5%.

"Adani Solar Energy Kutchh Two Private Limited, a wholly-owned subsidiary of Adani Green Energy Limited (AGEL), has commissioned a 100 MW solar power project at Khirsara, Gujarat, ahead of its scheduled commercial operation date (COD) as per its 25-year power purchase agreement (PPA ) with the Gujarat Urja Vikas Nigam India (GUVNL)," Adani Green Energy said. The PPA is priced at Rs 2.44 per kilowatt-hour, as on Tuesday (December 29).

With this commissioning, AGEL's total operational renewable power capacity grows to 2,950 MW, showing a compound average growth rate of 55 percent since March 2016.

Meanwhile, market indices gained for seventh straight session on Thursday, the expiry day for F&O segment, amid mixed global equities. Sensex hit a lifetime high of 47,865 and Nifty touched 14,010 for the first time.

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