Refex Renewables unit received a 100 MW Solar Project from NTPC

Refex Renewables and Infrastructure is a company operating in the renewable energy and green energy industries. They concentrate on the distribution of energy in commercial and industrial settings, as well as in rural areas such as homes, solar water pumps, street lighting systems, residential areas, small and medium-sized businesses (SME), and waste heat to power, an emerging technology. 

RGPL was awarded an NTPC project worth Rs. 480 crore

One of India’s biggest public sector projects in the power generation industry, NTPC Limited, has granted a major 100 MW solar power project to Refex Green Power Limited (RGPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure Limited. A significant advancement for the business, the project, estimated to be worth Rs. 480 crores, is anticipated to increase its market share in the renewable energy sector.

The contract was awarded after NTPC held a competitive bidding process in compliance with its Request for Proposals No. NTPC/RE-CS/2024-25/Solar-01, dated June 24, 2024. The plan calls for the signing of a power purchase agreement (PPA) by Refex Green Power or a special purpose vehicle (SPV) subsidiary of NTPC Limited, a Maharatna business under the jurisdiction of the Indian Ministry of Power. Through the PPA, NTPC will be able to purchase solar energy produced by the project for a 25-year period at predetermined terms.

RGPL and NTPC have a 25-year agreement

The Letter of Award (LoA) will be issued, and within ninety days, NTPC and Refex Green Power will sign a PPA. The PPA, which controls the long-term 25-year purchase of solar power from the project, is an essential part of this arrangement. This agreement supports India’s efforts to meet its energy needs more entirely through the use of solar power and other sustainable energy sources.

RGPL has a 24-month deadline

Refex Green Power will have 24 months from the time the PPA is signed to finish commissioning the project and start providing NTPC with electricity. Given the substantial size of the project, this timeline is expected to be closely monitored, with significant resources dedicated to ensuring timely execution.

Refex Renewables & Infrastructure Ltd. stock hits upper circuit

Refex Renewables & Infrastructure Ltd. stock is trading right now at Rs. 846.05 per share and hit the upper circuit after they bagged the project from NTPC for Rs. 480 crore. The stock has returned about 13,746% over the last five years, indicating demand for the company and the industry.

RGPL Q1FY25 results

This microcap company’s revenue from operations increased 1.12% QoQ, from Rs. 17.81 crore in Q4FY24 to Rs. 18.01 crore in Q1FY24, as reported in their most recent Q1FY25 results. Their net loss decreased by 27.64% on a quarter-over-quarter basis, from Rs. 10.85 crore in Q4 FY24 to Rs. 8.50 crore in Q1 FY24.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.