Infra-to-energy player Hazoor Multi Projects Ltd has submitted a response to the exchanges stating that it will arrange the "necessary financing" for the Rs 913 crore solar project from Apollo Green Energy Limited (formally known as Apollo International Limited). The project is for the execution of a 200 MW grid-connected solar photovoltaic (PV) project in Gujarat. As per the information shared, the project will take place at the Gujarat State Electricity Corporations (GSECL) Renewable Energy Solar Park in Khavda (Stage-3).
“Regarding the letter of award to Hazoor Multi Projects Ltd from Apollo Green Energy Limited (AGEL) for NHPC -200 MW, Engineering, Procurement & Construction (EPC) Contract for Design, Engineering, Supply, Construction, Erection, Testing, and Commissioning of 200 MW Grid connected Solar PV Power Project in GSECL's RE Solar Park at Khavda (Stage-3) in Gujarat, we wish to informand clarify the stock exchange that the Company will arrange necessary financing for the above project value of ₹913 crore,” the company informed BSE in an exchange filing.
The work includes designing, supplying, constructing, testing, and commissioning the solar power plant, according to a regulatory filing. The order needs to be executed by March 2026.
Details Of Amendment
Sharing the details of the amendment, the company said that as per the original exchange filing, Hazoor Multi Project was set to share 5 per cent of the contract value with AGEL. However, now AGEL mentions that they will share 5 per cent of the contract value in lieu of financing the project.
Share Price Today
Meanwhile, the stock of the company started the session in the green, even as the market started in the red as investors stayed on the sidelines ahead of the formal announcement of a trade deal with the US. It gained further to touch the high of Rs 47.45 before falling to touch the intraday low of Rs 43.21. Last seen, it was trading at Rs 43.90 with a fall of 4.46 per cent.
The counter has given a multibagger return of 221 per cent in two years but has corrected 17.69 per cent so far this year.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
