Sangam Renewables Ltd. update on 150 MW Projects of MAHAGENCO.

Maharashtra State Power Generation Corporation (MAHAGENCO) vide its email dated May 02, 2019, has informed Sangam Renewables Ltd. that Maharashtra Electricity Regulatory Authority (MERA) vide its order dated February 16, 2018 granted its approval of implementing of the 16MW project at Gavankund Dist. Amravati as pilot project out of the 150 MW projects for which tendered was awarded to the Company and for Balance capacity of 134 MW, to initiate fresh bidding process.

Accordingly the Company has consented for the implementation of the 16MW project and balance 134 MW projects be treated as canceled for the time being as informed by the Maharashtra State Power Generation Corporation (MAHAGENCO).

Shares of Sangam Renewables Ltd was last trading in BSE at Rs.18.5 as compared to the previous close of Rs. 17.8. The total number of shares traded during the day was 2572 in over 5 trades.

The stock hit an intraday high of Rs. 18.5 and intraday low of 17.3. The net turnover during the day was Rs. 45753.