Ujaas Energy powers up

Good tidings seem to be continuing for Ujaas Energy. First was the order in Sept worth Rs.88 crore from Oil India and then in Nov, it was a Rs.37 crore order from Daman and Diu for setting up of 6 (Six) MW Grid Connected Solar PV Project including 5 years Operation & Maintenance on turnkey basis.  Prior t these two orders, there was 10MW order at Teesta Canal West Bengal and 1000KWp order at Andaman & Nicobar.

Today, it has won another engineering, procurement and construction (EPC) order worth Rs.92 crore for 10 megawatts (MW) canal bank grid connected solar photovoltaic power plant at Vadodara, Gujarat. This order comes from Sardar Sarovar Narmada Nigam and is for its operation and maintenance for 25 years.

Ujaas Energy is the first company to generate & sell Solar REC in the country from its solar power plant of 2 MW commissioned in March 2012 at Rajgarh (Madhya Pradesh). The company during its initial years was involved in manufacturing of transformers and panel meters for energy controlling and earlier, till 2013, it was listed as M and B Switchgear.

The stock price has risen over 45% since September, from Rs.14 levels to Rs.21 levels today. Its 52-week high seems well within reach at Rs.24.20.