RPower gains after commencement of pre-commissioning activities at a solar power project

Reliance Power rose 2.42% to Rs 71.90 at 11:33 IST on BSE after the company said that pre-commissioning activities have commenced for its concentrated solar power project in Rajasthan's Jaisalmer district.

The announcement was made during trading hours today, 29 November 2013.

Meanwhile, the S&P BSE Sensex was up 248.66 points or 1.21% at 20,783.57.

On BSE, 11.74 lakh shares were traded in the counter as against average daily volume of 12.98 lakh shares in the past two weeks.

The stock hit a high of Rs 72 and a low of Rs 70.30 so far during the day.

Reliance Power (RPower)'s concentrated solar power (CSP) project in Rajasthan's Jaisalmer district is the world's largest CSP project based on CLFR technology. The 100 megawatts (MW) CSP plant is being built at a cost of Rs 2100 crore adjacent to the 40 MW solar photovoltaic project commissioned by the company last year. The project is all set to be commissioned during Q1 2014, the company said.

RPower's consolidated net profit rose 4.3% to Rs 250.50 crore on 22.4% growth in net sales to Rs 1320.63 crore in Q2 September 2013 over Q2 September 2012.

Reliance Power, a part Reliance Group, is India's leading private sector power generation company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 2,545 MW. The company also has the largest captive coal reserves in the private sector, estimated at more than two billion tonnes. Besides, the company is also developing coal mines in Indonesia and coal bed methane blocks in India.

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