Ravindra Energy gains after bagging 62 MW solar projects from HESCOM

Ravindra Energy added 2.14% to Rs 145.25 after the company has received 13 letter of award (LOA) from Hubli Electricity Supply Company (HESCOM) for setting up aggregate capacity of 62 MW(AC) solar power generators (SPGs) project in Karnataka.

Under the project, the company will develop 62 MW (AC) projects spread across 13 HESCOM sub-stations. HESCOM will enter into a 25 (Twenty-Five) years Power Purchase Agreement (PPA) with the company at an average tariff of Rs 2.95 per unit.

The estimated capital expenditure for the project is approximately Rs 225 crore. The projects are scheduled to be commissioned within 12 months from the signing of the PPA.

Ravindra Energy is principally engaged in selling solar pumps, setting up of solar generation power plant (ground mount & rooftop) & generation and sale of power.

The companys consolidated net profit surged to Rs 30.79 crore in Q2 FY26, compared with Rs 1.15 crore in Q2 FY25. Net sales jumped 672.3% YoY to Rs 120.33 crore in Q2 FY26.

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