CONCOR shares hit 52-week high solar project deal with NTPC Vidyut

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.

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Shares of Container Corporation of India gained 1 percent to hit a 52-week high of Rs 859.75 in early trade on December 8 after the company signed a contract to set up power projects for NTPC Vidyut Vyapar Nigam.

“Container Corporation of India and NTPC Vidyut Vyapar Nigam Limited (NVVN) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals,” CONCOR said in its release.

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

CONCOR agrees to purchase and consume the solar power generated by the proposed solar PV project(s) on a long-term basis. NVVN and CONCOR shall enter into a separate agreement for the same.

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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.

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).