Solar Power Company-CESC signs MoU with IPICOL, Government of Odisha
DSIJ Intelligence-1Categories: Mindshare, Trending
The stock is up over 30 per cent from its 52-week low of Rs 119 per share.
CESC Ltd informed that CESC Green Power Limited, a subsidiary of the company, has entered into a Memorandum of Understanding (MoU) with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), Government of Odisha, for the establishment of 3 GW Solar Cell, 3 GW Solar Module Manufacturing, Advanced Chemistry Cell Pack of 5 GWh and Advanced Solar Components along with 60 MW AC Captive Power Plant Unit at Chhatia - Ambakhala under Gondia Tahasil in Dhenkanal district of Odisha with an investment of around Rs 4,500 crore.
About the Company
CESC Ltd is a leading Indian electrical utility company with a comprehensive portfolio spanning generation, transmission and distribution. It operates in West Bengal, serving over 3.4 million consumers. CESC owns and operates thermal power plants, including Budge Budge Generating Station and Southern Generating Station, with a combined capacity of 885 MW. Additionally, it has commissioned the Haldia Thermal plant (600 MW) and has a presence in renewable energy through solar power plants in Gujarat and Tamil Nadu. The company's distribution network extends across Kolkata, Greater Noida, Rajasthan and Chandigarh, encompassing EHV, HV and LV lines, substations and distribution stations. CESC also holds a joint venture with Noida Power Company Limited, securing exclusive power distribution rights for the Kolkata and Greater Noida regions.
The company has a market cap of over Rs 20,000 crore and has been maintaining a healthy dividend payout of 44 per cent. The stock is up over 30 per cent from its 52-week low of Rs 119 per share.
Disclaimer: The article is for informational purposes only and not investment advice.