HG Infra Engineering Soars on New Solar Power Project Orders

2 Apr 2024 , 02:33 PM

HG Infra Engineering Ltd shares surged over 10% to reach an all-time high of ₹1,098.4 on the BSE following the announcement of new orders. At the time of writing, shares of HG Infra Engineering were trading 8.14% higher at ₹1,076.00 on the BSE. The company disclosed in a stock exchange filing that it has secured contracts worth ₹156 Crore in Rajasthan.

HG Infra Engineering, in consortium with Stockwell Solar Services Private Ltd, won contracts for two solar power plant projects from Jodhpur Vidyut Vitran Nigam Ltd.

The contracts mandate completion within 12 months, with an additional 25-year operation and maintenance period from the commercial operation date for each project.

One of the contracts involves design, survey, supply, installation, testing, commissioning, and long-term operation and maintenance of a grid-connected solar power plant through the RESCO mode. This project aims at solarizing agriculture consumers connected on 11 KV feeders of the GSS under the KUSUM Scheme in Churu, Rajasthan. The project’s total capacity is 11.56 MW, with an estimated construction cost of ₹49 Crore, including GST.

The second project, located in Bikaner, Rajasthan, has a total solar capacity of 25.10 MW, with a tentative estimated construction cost of ₹107 Crore, including GST.

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