SJVN gains on gearing up to set up 90 MW floating solar project in Omkareshwar
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SJVN is currently trading at Rs. 33.90, up by 0.05 points or 0.15% from its previous closing of Rs. 33.85 on the BSE.
The scrip opened at Rs. 33.70 and has touched a high and low of Rs. 34.10 and Rs. 33.70 respectively. So far 276118 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.25 on 05-Dec-2022 and a 52 week low of Rs. 25.45 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 34.10 and Rs. 33.50 respectively. The current market cap of the company is Rs. 13302.36 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.12% and 7.11% respectively.
SJVN is gearing up to set up a 90 MW floating solar project in Omkareshwar, Madhya Pradesh at an investment of Rs 650 crore. The project is scheduled to be commissioned by December 2023. The company performed bhumi pujan at the project site for the commencement of engineering, procurement and construction (EPC) work of the project at Omkareshwar Reservoir.
The project was bagged at a tariff of Rs 3.26 per unit on build own and operate model in a bidding process conducted by REWA Ultra Mega Solar (RUMSL). Energy generation of 196 million units in the first year and cumulative energy generation of about 4,570 million units over a period of 25 years is expected from the project.
On commissioning, carbon emission reduction to the tune of 2,23,923 tonnes is expected, which will be a significant contribution in the government of India's mission of net zero carbon emission by 2070. The project is being developed by SJVN's wholly owned subsidiary, SJVN Green Energy (SGEL).
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
