BPCL shares in focus on emerging as L1 bidder for NTPC’s 1200 MW ISTS solar project
Shares of Bharat Petroleum Corporation (BPCL) are expected to grab attention on Thursday as the company has emerged as the lowest bidder for NTPC’s tender for establishing 1200 MW ISTS-connected solar PV power projects.
“In terms of Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform you that BPCL participated in NTPC’s tender for the selection of Solar Power Generators to establish 1200 MW ISTS-connected solar PV power projects across India,” the company informed via a filing to the exchanges.
During the Reverse Auction, BPCL emerged as the lowest bidder for a capacity of 150 MW, the company further informed.
Once the contract is finalized, the project will be developed over a two-years timeline at an estimated capital outlay of Rs 756.45 crore and is projected to generate annual revenue of approximately Rs 100 crore by producing around 400 million units of clean energy.
In addition to this, BPCL has also informed that its board has approved the commencing pre-project activities for setting up a green field refinery cum petrochemical complex in East Coast at Andhra Pradesh.
The estimated cost of this project is Rs 6,100 crore.
The pre-project activities will consist of various initial studies, land identification and acquisition, preparation of detailed feasibility report, environment impact assessment, basic design engineering package and front end engineering design etc.
The shares of BPCL have surged 30.8% in the last one year and by 29.2% on a year-to-date basis. In the shorter term, however, the BPCL stock has fallen by 4.4% in the last 6 months and approximately 14% in the last 3 months.
BPCL shares closed at Rs 291.85, higher by nearly 1%, on the BSE on Tuesdays.
Published On Dec 26, 2024,9:15
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