Small-cap energy stocks rise 6% on capacity expansion plans

At the board meeting, the company discussed various opportunities available in green energy around the world. The Board also took note of progress on rights issues and discussed enhancing value for stakeholders.

“At today’s Board meeting, based on the Board’s recommendations at its last meeting held on December 23, 2022, we will consider existing hybrid solutions to increase our assets and add solar to our existing locations. We will mix light and wind farms,” the company said in a regulatory filing.

The board also discussed the prospects for renewable energy expansion of up to 1 GW over the next two to three years.

“Business prospects for scaling up to 1 GW of renewable energy over the next two to three years were presented to the board, and he provided consultancy for a comprehensive study including feasibility, funding and start-up. Appointments have been confirmed.The Board has discussed and accepted the appointments of consultants and authorized officers of the company to sign the necessary contracts as necessary,” the filing said. .

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As of June 2022, the company has a portfolio of wind assets of 402.3 MW across Tamil Nadu, Andhra Pradesh, Gujarat and Karnataka, with a smaller 10.5 MW into a Croatian wind farm. It contains.

The company’s partners include US-based Bessemer Venture Partners and Olympus Capital Holdings Asia.

The stock was trading more than 5% higher ¥11.52, at the time of writing this copy.

52-week high ¥52-week low of 28.75 on January 12, 2022 ¥6.80 on June 21, 2022.stock prices are rising ¥1.89 or 19.63% over the last 6 months, down ¥9.28, or 44.62% in the past year.