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Green energy stock jumps 4% after it signs MoU worth ₹10,000 Cr for solar power generation

Green energy stock signed a ₹10,000 crore MOU at the Rising Rajasthan Summit 2024, focusing on solar power projects, component manufacturing, and parks, advancing renewable energy and promoting sustainable growth in Rajasthan.
Green energy stock surges 4% after signing ₹10,000 Cr MoU for solar power projects.
Green energy stock surges 4% after signing ₹10,000 Cr MoU for solar power projects.

Introduction:

Leading green energy stock signed a ₹10,000 crore MOU at the Rising Rajasthan Summit 2024. The initiative focuses on solar power generation, component manufacturing, EPC projects, and parks in Rajasthan, driving sustainable development and bolstering India’s renewable energy goals.

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Also Read: Tata group stock jumps after it signs MoU worth $4.25 Bil with Asian Development Bank for clean energy power projects

Share price movement of Insolation Energy Ltd:

On November 22, 2024, by 3:42 PM, Insolation Energy Ltd (BSE: 543620) opened at ₹4077.00, reflecting no change from its previous close of ₹4077.00. The stock reached an intraday high of ₹4289.00, up 4.61%, and a low of ₹4045.00, down 0.79%. The market capitalization stood at ₹8,884.85 crore.

Insolation Green Energy Signs ₹10,000 Crore MOU

Insolation Green Energy, a subsidiary of Insolation Energy Ltd, signed an MOU with Rajasthan at the Rising Rajasthan Summit 2024. The ₹10,000 crore investment focuses on solar power generation, component manufacturing, EPC projects, and parks by 2030.

This partnership aims to boost renewable energy infrastructure, with projects under the IPP model. It will position Rajasthan as a key player in India’s clean energy transition while supporting sustainable economic growth and energy innovation in the region.

The collaboration underscores Insolation’s commitment to renewable energy development. The initiative aligns with Rajasthan’s investment goals and strengthens its role in India’s green energy ecosystem.

Recent news on Insolation Energy Ltd:

As of October 31, 2024, Insolation Energy Limited announced its largest contract worth ₹500.5 crore from Rajasthan Renewable Energy Corporation Ltd. The project involves 77 MW rooftop solar installations across Jaipur, Ajmer, and Kota, with an 18-month timeline.

Stock performance of Insolation Energy Ltd for Period of 1 week, 6 months and 1 year:

Insolation Energy Ltd recently exhibited dynamic performance. Despite a 0.41% dip over the past week, its returns surged by 82.1% over six months and a remarkable 530% over the past year, reflecting strong investor confidence.

Also Read:  Infra stock in focus after it signs MoU with NTPC GE Power Services

Shareholding pattern of Insolation Energy Ltd:

All values in %Sep 2024Mar 2024Sep 2023
Promoter70.10%70.00%70.00%
FII0.60%0%0.00%
DII0%0%0%
Public29.40%30.00%30.00%
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About the company Insolation Energy Ltd:

Insolation Energy Ltd (BSE: 543620) is a leading North Indian solar manufacturer established in 2015. Based in Jaipur, it operates a 200 MW SPV Module unit and offers high-efficiency solar panels, batteries, inverters, and EPC services under the INA Solar brand.

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.

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