Concor hits new high

Concor or Container Corporation of India is in the limelight today morning. Opening 2% higher at Rs.858.80, the stock price went on to hit a new 52-week high at Rs.859.75. It remains in the green and is currently trading at Rs.847 levels.

The stock hit a high on its positive announcement last night.

The company said that, with an aim to promote sustainable and eco-friendly renewable solar energy, Concor and NTPC Vidyut Vyapar Nigam (NVVN) have signed a MoU to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.

This MoU aims to reduce carbon emissions and to promote renewable power generation, contributing to a cleaner environment and aligning with global sustainability goals. This is in alignment with Govt. of India’s commitment to achieve 500 GW renewable energy target by 2030.

Key Highlights of the MoU:

a. NVVN will explore the possibilities of setting up solar projects in CONCOR terminals.

b. CONCOR agrees to purchase & consume the Solar Power generated by the proposed Solar PV Project(s) on long term basis. NVVN and CONCOR shall enter into a separate Agreements for the same.

c. CONCOR shall provide/arrange rooftop / land/ water body required for setting up the projects to NVVN on long-term lease on mutually agreed terms before signing of Power Purchase Agreement (PPA) to be executed separately, as required in this regard.

d. NVVN will be responsible for project design, supply, execution, commissioning, and O&M of the Solar PV project. NVVN proposes to set up the Project through Engineering Procurement and Construction Contract [EPC].