Upper Circuit: Epic Energy Signs Pact With Niva Ecotech, Shares Rally 242% In 3-Months

Small cap company Epic Energy Ltd shares hit 2% upper circuit soon after it informed via BSE filing about signing a pact with Niva Ecotech to set up a 35 MWp (25 MW) solar park in and around Solapur. Current market price of Epic Energy Ltd shares on BSE is Rs 36.58 per share. Epic Energy shares zoomed 242% in last 3-months and 450% in last 1-year. Its market capitalisation stood at Rs 26.38 crore. Check details below:

Epic Energy Inks Pact With Niva: As per the exchange filing of Epic Energy issued as on September 2, 2024, "we are pleased to inform you that Epic Energy Limited (Epic) [BSE Scrip Code: 530407] {www.epicenergy.in} a significant player in the Solar EPC market, has entered into an Agreement with Niva Ecotech Pvt Ltd, (Niva), {www.nivaetcotech.com}, an established player in the business of setting up Solar Parks to, inter alia, set up a 35 MWp (25 MW) Solar Park in and around Solapur in Maharashtra.

Elaborating on the Agreement, Mr Pranav Chhatre, Director - Epic Renewable Projects Private Limited said, "Epic Renewable Projects Private Limited is a 100% subsidiary established by Epic Energy Limited for the purpose of setting up Solar Parks in India. We are very excited about the first venture to be executed in collaboration with Niva. We have already identified several sites in and around Solapur, Maharashtra to set up the first Epic Solar Park of 35 MWp (25 MW). Our goal is to reach a total installed capacity of 140 MWp (100 MW) within the next two years."

According to Mr Ajay Mundada, Director - Niva Ecotech Pvt Ltd, "Solapur is an ideal location to set up Solar Parks. At Niva, we have already executed multiple projects at this location for various customers in the last three years. Our partnership with Epic will help us to use our skills and experience to good effect to expand India's Solar Energy footprint."

Epic Energy Shares Performance: The 52-week high price of Epic Energy Ltd shares on BSE is Rs 36.58 per share (as on 02/09/2024) and 52-week low price is Rs 5.97 per share (as on 06/05/2024), respectively. Epic Energy shares gained over 10% in last 1-week, soared 306% year-to-date, offered return of 318% in last 2-years, and gained 330% in last 5-years.

About Epic Energy: Epic is an Energy Service Company recognized as an ESCO by the Bureau of Energy Efficiency, Government of India. Epic has been in the field of Energy Conservation and Green Energy for the last two decades.
About Niva: Niva is an established player in the business of setting up Rooftop Solar Installations, Solar Parks and providing Solar EPC Services as well as the full range of Operations and Maintenance Services.