Adani Scoops SECI Electrolyser Deal

15 Jan 2024 , 12:08 PM

Following the announcement by the flagship company of the Adani group that it had received an order from Solar Energy Corporation of India (SECI) to establish production capacity for electrolysers in India, Adani Enterprises saw a slight increase in early trading on January 15.

At 12.05 pm, Adani Enterprises was trading at Rs 3,098.00, down Rs 6.00, or 0.19%, on the BSE.

‘Adani New Industries, a wholly owned subsidiary, has received Letter of Award (LoA) from Solar Energy Corporation of India (SECI) for setting up electrolysers manufacturing capacity of 198.5 MW per annum in India under strategic interventions for Green Hydrogen Transition Scheme (Tranche-I),’ the business stated in its exchange note.

Within 30 months of the LoA date, the project, which is covered by the production linked incentive program, must be finished.

The maximum incentive to be distributed is Rs 293.78 crore, spread over a five-year period starting on the scheduled commissioning date.

On January 16, 2023, the share reached a 52-week high of Rs 3,739, and on February 3, 2023, it reached a 52-week low of Rs 1,017.10. At the moment, the stock is trading 205.67 percent above its 52-week low and 16.85 percent below its 52-week high.

Over the previous nine months, the share price increased by 68%.

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