Adani Enterprises Ltd on Friday (January 12) said its wholly-owned subsidiary Adani New Industries Ltd has secured a significant letter of award (LoA) from the Solar Energy Corporation of India Ltd.
"..we would like to inform that Adani New Industries Limited, a wholly-owned subsidiary of the Company, has received a Letter of Award(LoA) from Solar Energy Corporation of India (“SECI”) on 11th January 2024 at 7.59 p.m. for setting up manufacturing capacity for Electrolysers in India under Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I)," according to a stock exchange filing.
The LoA pertains to the establishment of a manufacturing capacity for electrolysers in India, aligning with the Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I).
Under the terms of the order, Adani New Industries is tasked with setting up an electrolysers manufacturing capacity of 198.5 MW/annum in India. The project falls under the production linked incentive scheme (PLI) for electrolyser manufacturing, with a stipulated execution period of 30 months from the date of the LoA.
The focus of the initiative is on establishing an alkaline electrolysers facility under bucket-II, leveraging indigenous technology. The maximum incentive allocated over a period of five years from the scheduled commissioning date is set at ₹293.78 crore.
Shares of Adani Enterprises Ltd ended at ₹3,104.25, up by ₹23.80, or 0.77%, on the BSE.
