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Veer Energy & Infrastructure to consider Bonus Issue

October 04, 2022 23:35 IST | ANI Press Release
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Veer Energy & Infrastructure to consider Bonus Issue

Mumbai (Maharashtra) [India], October 4 (ANI/PNN): One of India's leading renewable energy companies, Veer Energy & Infrastructure Ltd is considering a bonus issue to the equity shareholders.

The board of directors of the company is scheduled to meet on October 13 to recommend and approve issue of bonus shares to the equity shareholders.

Veer Energy is one of the leading renewable energy company with the expertise to provide services to develop, construct and operate projects that contribute to goal of a low carbon and sustainable future.

Company is committed to leading a change in the country's current energy portfolio by delivering cleaner and smarter energy choices and thereby reducing India's carbon footprint. The company is currently active in western region of India and has developed approximately 265 MW Wind farm which is in operation

Commenting on the development, Yogesh Shah, Managing Director, Veer Energy & Infrastructure Ltd said, "Over the years, the company has strengthen its presence in the renewable energy sector and now foraying entry into solar power. The company is coming up with 160 MW wind farm development project in the states of Rajasthan, Gujarat and Maharashtra. The company has planned to come up with 25 MW Solar plant for which company has acquired 200 acres land at Village Shivlakha Dist Bhuj."

Company has been consistent delivering returns to the shareholders in form of Bonus Shares. In the last seven years, company has announced three bonus issues also company has maintained its investor friendly approach and has maintained its consistent dividend track record thus maintaining a healthy track record of rewarding shareholders in constant basis. On the occasion of celebrating 40 Years of company's operations, this year on the Diwali Occasion company is recommending bonus shares to the equity shareholders of the company.

Bonus History

29 July 2009 - 1 : 2

12 Nov 2008 - 14 : 10

17 March 2008 - 9 : 5

Veer energy is leading wind energy developer. From inception, the company has anchored itself on combination of values that propelled and integrated growth.

The company focuses on development of infrastructure in the power sector including setting up of wind turbine generators farms and associated infrastructure. Company's wind farms projects are based in four high wind potential states Gujarat, Rajasthan, Maharashtra, Tamil Nadu.

Shah said, "Company is pleased to announce its entry into B2C market for providing EPC solutions for installation of solar rooftop projects. Solar Power in India has a huge and untapped potential, with new introduction of NET METERING technology by almost all the states, Company is targeting the solar rooftop market. Company has an objective to play a major role in responding to the growing problem of climate change attributed to greenhouse gas emissions. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions."

The immediate aim of the company is to focus on setting up an enabling environment for solar technology penetration in the country both at centralized and decentralized level. Company has installed 30 KW solar roof top projects at its existing factory shed of engineering division at Ahmedabad. Company has received GEDA permission for commissioning the said project under the Gujarat Solar Power Policy, 2015.

With wind under its wings and a number of innovative, projects in the pipeline, company is guided by its philosophy of pursuing social, economic and ecological sustainable development for our planet. In continuation to this company is in talks with clients from various different fields like industries, factories, housing societies, schools, hostels, etc. proposing to install roof top solar with net metering technology.

This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)

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