Adani Enterprises, witnessed a sharp rise in share price on Monday after the company and SunEdison Inc., a leading solar technology manufacturer and provider of solar energy services, have signed a Memorandum of Understanding (MoU) to establish a joint venture to build the largest, vertically integrated solar photovoltaic manufacturing facility in India with an investment of around USD 4 billion. The facility will create enough solar panels to fuel substantial solar growth in India, furthering India’s goals for clean, renewable energy independence.

Shares of the company are trading at Rs 518.20, up Rs 12.1, or 2.39% at the Bombay Stock Exchange (BSE) on Monday at 11:17 a.m.

The scrip has touched an intra-day high of Rs 522.80 and low of Rs 510.50. The total volume of shares traded at the BSE is 148,076.