Refex Green Power Limited, a wholly-owned subsidiary of Refex Renewables & Infrastructure Ltd, has achieved a significant milestone by securing a contract to develop a 100-megawatt (MW) solar power project. This contract was awarded through a competitive bidding process initiated by NTPC Limited, a prominent power generation company in India.
Under the agreement, Refex Green Power will manage the entire lifecycle of the project, which includes design, construction, and operation. The estimated cost for the project is approximately Rs 480 crore. Once completed, the solar power plant will generate clean, renewable energy to be supplied to NTPC Limited under a 25-year power purchase agreement (PPA). The project is expected to be commissioned within 24 months from the effective date of the PPA.
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Refex Renewables & Infrastructure Ltd has a rich legacy dating back to 1959, originally established as the Monsanto Electronic Material Company (MEMC), a division of the multinational Monsanto Corporation. The company initially focused on manufacturing silicon wafers for the semiconductor industry, which was rapidly expanding at the time. Currently, Refex Renewables has a market capitalization of Rs 361.8 crore and has seen a remarkable 3-year stock price compound annual growth rate (CAGR) of 140 percent.
Recently, shares of Refex Renewables & Infrastructure hit a 2 percent upper circuit limit, rising to Rs 805.80 per share from a previous close of Rs 790. Over the past year, the stock has delivered multi-bagger returns of 120 percent, and a staggering 13,000 percent over the last five years. Investors are encouraged to keep an eye on this micro-cap stock.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
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