Introduction:
Renewable energy company has received a Letter of Award from Maharashtra State Electricity Distribution Company to develop 44 MW (AC) decentralized solar projects under a state government scheme, benefiting from a 25-year Power Purchase Agreement and financial assistance.
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Share price movement of Ravindra Energy:
On January 17, 2025, Ravindra Energy Ltd (RELTD) opened at ₹129.45, up 3.64% from its previous close of ₹124.95. The stock reached a high of ₹129.45 (3.64%) and a low of ₹123.50. As of 12:23 PM, it traded at ₹123.90, a 0.84% decrease, with a market cap of ₹2,212.29 crore.
Ravindra Energy Secures 44 MW Solar Project:
Ravindra Energy Limited (REL) has secured a Letter of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to develop 44 MW (AC) decentralized feeder-level solar projects under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme.
The projects will be implemented across 15 MSEDCL sub-stations and are set to benefit from a 25-year Power Purchase Agreement (PPA) with an average tariff of ₹3.10 per unit. The total capacity of the solar projects is 44 MW (AC).
Under the KUSUM C Scheme of the Central Government, these projects will also receive central financial assistance of ₹1.05 crore per MW. This development aligns with India’s renewable energy goals.
Ace investor holding in Ravindra Energy:
Mukul Mahavir Agrawal
Mukul Mahavir Agrawal holds a 1.21% stake in Ravindra Energy Ltd (RELTD), with a total of 2,162,162 shares. This position highlights his significant interest in the company’s renewable energy projects and growth potential.
Stock performance of Ravindra Energy for Period of 1 week, 6 months and 1 year:
Ravindra Energy Ltd (RELTD) has seen a 1.61% increase over the past week, a strong 78.8% rise in the last 6 months, and a 78.2% gain over the past year, reflecting significant growth in its renewable energy sector.
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Shareholding pattern of Ravindra Energy:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 75.00% | 75.00% | 75.00% |
| FII | 0% | 0.10% | 0.10% |
| DII | 0.10% | 0.00% | 0.00% |
| Public | 24.90% | 24.90% | 24.90% |
About Ravindra Energy:
Ravindra Energy Limited (RELTD) was incorporated in 1980 and primarily engages in selling solar pumps, setting up solar power plants, and power generation. The company entered solar PV power packs and participated in Karnataka’s solar policy initiatives.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
