Thursday, 10 July 2014

Moser Baer up 5% on news of ultra mega solar power projects

Power stocks especiallty renewable energy producers like Moser Baer, Indowind Energy and Orient Green Power Company surged 5 percent each after the Union Finance Minister Arun Jaitley, while presenting the General Budget 2014-15 in Parliament on Thursday, announced several initiatives for strengthening power sector.

Power stocks especiallty renewable energy producers like Moser Baer  ,  Indowind Energy  and  Orient Green Power Company  surged 5 percent each after the Union Finance Minister Arun Jaitley, while presenting the General Budget 2014-15 in Parliament on Thursday, announced several initiatives for strengthening power sector. He says he has proposed to take up ultra mega solar power projects in Rajasthan, Gujarat, Tamil Nadu and Laddakh in J&K. "A sum of Rs 500 crore is allocated for this purpose," he adds. He also allocated a sum of Rs 400 crore for launching a scheme for solar power driven agricultural pump sets and water pumping stations. "An additional amount of Rs 100 core is set aside for the development of 1 MW solar parks on the banks of canals," he says, addding implementation of Green Energy Corridor Projects will be accelerated in this financial year to facilitate evacuation of renewable energy across the country. 

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