Ircon International wins bid to set up 500 MW solar power plant; stock gains 3%

The approximate cost of the project is Rs2,400cr.

Sep 24, 2021 05:09 IST India Infoline News Service

Bombay Stock Exchange Up
Ircon International (IRCON) said in the regulatory filing that it has won a bid to set up 500 MW solar power plant through an e-Reverse auction with a Viability Gap Funding (VGF) of Rs224.70cr.

The company won an order under CPSU Scheme-II floated by Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs2,400cr.

In the regulatory filing, “Ircon International Limited (IRCON) has won a bid to set-up 500 MW solar power plant through e-Reverse auction with a Viability Gap Funding (VGF) of Rs224.70cr under CPSU Scheme-II floated by Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs2400cr.”

The stock ended at Rs45.80 up by Rs1.25 or 2.81% from its previous closing of Rs44.55 on the BSE. The scrip opened at Rs44.90 and has touched a high and low of Rs46.60 and Rs44.60 respectively.

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