SJVN climbs after its arm signs PPAs for 300 MW renewable energy projects
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SJVN is currently trading at Rs. 49.83, up by 1.12 points or 2.30% from its previous closing of Rs. 48.71 on the BSE.
The scrip opened at Rs. 48.93 and has touched a high and low of Rs. 50.71 and Rs. 48.23 respectively. So far 1726223 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 50.71 on 20-Jul-2023 and a 52 week low of Rs. 27.90 on 12-Aug-2022.
Last one week high and low of the scrip stood at Rs. 50.71 and Rs. 45.32 respectively. The current market cap of the company is Rs. 19491.78 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.72% and 7.51% respectively.
SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) has signed Power Purchase Agreements (PPA) for 300 MW Renewable Energy Projects. PPA has been signed for 200 MW Solar Power Project Capacity with Maharashtra State Electricity Distribution Company (MSEDCL) at Mumbai and with Solar Energy Corporation of India (SECI) for 100 MW Wind Power Capacity at Delhi.
The development cost of 200 MW Ground Mounted Solar Project in Maharashtra is around Rs 1,200 crore. SGEL has bagged the project at a tariff of Rs 2.90 per unit through competitive bidding process in an e-reverse auction organized by MSEDCL. The project is expected to be commissioned in December 2024. The project is expected to generate 456 MU in the 1st year and the cumulative energy generation over a period of 25 years would be about 10,481 MUs.
The development cost of 100 MW Wind Power Project is around Rs 750 crore. The project has been won at Rs 2.90 per unit on Build Own and Operate basis through e-reverse auction. The project is expected to be commissioned in March 2025. The project is expected to generate 289.27 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 7,231.75 MUs.
Commissioning of these projects is expected to reduce 8,67,916 Tonnes of carbon emission to contribute to Govt. of India’s mission of net zero emission by 2070. In the backdrop of Government of India’s vision to generate 500 GW Energy by 2030 from non-fossil sources, the Company has embarked on an ambitious journey for development of renewable energy. The Company is adding significant renewable projects to its portfolio to pursue this vision. These recent additions of new projects are leading the company towards actualizing its Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
