SJVN rises as its arm receives LoA for development of 100 MW Solar Power Pro

SJVN’s Subsidiary, SGEL has secured LoA for a 100 MW Solar Project in Rajasthan at Rs 2.62/Unit, aiming to Reduce Carbon Emissions in Line with GoI Mission.

On Friday, October 13, 2023 the shares of SJVN closed at Rs 73.05, up by 3.08% from its previous closing of Rs 70.87 on the BSE.

SJVN’s wholly owned subsidiary, SJVN Green Energy (SGEL) received a Letter of Award (LoA) on October 6, 2023, at a tariff of Rs 2.62 / Unit for the development of 100 MW Solar Power Project to be situated anywhere in the state of Rajasthan. The company has participated in the tariff-based competitive bidding conducted by Rajasthan Urja Vikas Nigam (RUVNL) for the development of the Solar Power Project in the state of Rajasthan. The Solar project shall be developed on Build Own and Operate (BOO) basis.

The tentative cost of Construction/Development of this project is around Rs 600 crore. The project is expected to generate about 252 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 5866 MU. As per RfS the Project shall be commissioned in a period of 18 Months from the date of signing of PPA. The PPA shall be signed between RUVNL and SGEL for 25 years.

The commissioning of this Project is expected to reduce 287434 Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission.
Incorporated in 1988, SJVN is a listed Mini Ratna Central Public Sector Entity under the Ministry of Power, GoI. SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy. SJVN is implementing hydro, thermal and solar power projects in Himachal Pradesh, Uttarakhand, Bihar and Gujarat in India and in Nepal and Bhutan.

Today, the stock opened at Rs 71.70 and has touched a high and low of Rs 74.70 and Rs 71.52, respectively. The BSE group ‘A’ stock of face value of Rs 10 has a 52-week high and low of Rs 83.69 and Rs 30.39, respectively.

Last one week high and low of the scrip stood at Rs 74.70 and Rs 69, respectively. The current market cap of the company is Rs 28,707.15 crore. The promoters holding in the company stood at 81.85%, while Institutions and Non-Institutions held 6.64% and 11.51% respectively.

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