Internet Desk/Hyderabad, May 19 (Maxim News): Anil Ambani is a name that is often heard in business news these days. After almost disappearing after the collapse of 2008, this Ambani brother is successfully continuing his second innings journey. Since the time when his sons have been taking care of the business responsibilities, the businessman has been successfully bringing his business back from the debt trap. Currently, the fact that these companies are turning into profits from huge losses is making investors happy.
Anil Ambani’s Reliance Power has signed a term sheet with Bhutan’s Green Digital Private Limited for a long-term power purchase agreement. Green Digital Private limited actually operates under the investment arm of the Bhutanese government, Druk Holding & Investments Limited. Through this, it has been revealed that Anil Ambani’s company is building the largest solar power project in Bhutan. ReliancePower shares gained almost 4 percent after this news came out.
According to the current deal between the two companies, the project will be operated through a 50:50 joint venture. Its capacity is expected to be 500 MW. It is reported that Rs. 2,000 crore will be spent on this project, which is being built under the build-own-operate (BDo) model, If this happens, it will be the largest foreign private sector direct investment in the solar energy sector of Bhutan, the government has said.
As for Reliance Power shares, they are trading at Rs. 45.96 per share on the NSE at 1.17 pm intraday. The stock’s 52 week high is at Rs. 53.61, while its 52 week low is Rs. 23.30. The company’s current market value is Rs. 19,000 crore. The shares of this company, which lost almost all of their value in the fall of Anil Ambani, are currently recovering and showering money on investors who had bet on them. In the past year, this stock has provided investors with returns of up to 80 percent. (Maxim News)
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