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Last Updated : Jun 17, 2020 10:55 AM IST | Source: Moneycontrol.com

Adani Green share price locked at 5% upper circuit, hits all-time high

The stock has been gaining amid media reports that the company has plans to raise up to $12 billion in the next 4-5 years through the sales of green bonds to accomplish the aim of becoming the world’s biggest renewable energy player.

 
 
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Shares of Adani Green were locked in 5 percent upper circuit at Rs 381.55, which is also their fresh all-time high, in morning trade on BSE on June 17.

If the stock ends in the green today, it will be its 10th consecutive day of gains.

The stock has been gaining amid media reports that the company has plans to raise up to $12 billion in the next 4-5 years through the sales of green bonds to accomplish the aim of becoming the world’s biggest renewable energy player.

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In a press release on June 9, the company claimed it had won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI).

As a part of the award, Adani Green will build 8 GW of solar projects and Adani Solar will establish 2 GW of additional solar cell and module manufacturing capacity.

This award, the largest of its type in the world, will entail a single investment of US $6 billion and will create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime.
First Published on Jun 17, 2020 10:55 am
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