SJVN rises on bagging 83 MW floating solar project in Madhya Pradesh
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SJVN is currently trading at Rs. 37.50, up by 0.55 points or 1.49% from its previous closing of Rs. 36.95 on the BSE.
The scrip opened at Rs. 37.30 and has touched a high and low of Rs. 37.90 and Rs. 37.20 respectively. So far 120921 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 39.35 on 09-Nov-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. 39.35 and Rs. 36.30 respectively. The current market cap of the company is Rs. 14520.59 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.79% and 6.43% respectively.
SJVN has bagged a contract to build, own and operate a 83 MW floating solar project worth Rs 585 crore in Madhya Pradesh. The project has been secured at a tariff of Rs 3.70 per unit on build, own and operate basis in an e-reverse auction (e-RA) organised by REWA Ultra Mega Solar (RUMSL). The company will develop this project in India's largest floating solar park at Omkareshwar in district Khandwa, Madhya Pradesh.
After commissioning, the project will generate 187 million units in the first year and 4,410 million units over a period of 25 years. Its commissioning is expected to reduce approximately 2,16,074 tonnes of carbon emission in 25 years. The power purchase agreement (PPA) will be signed between RUMSL and SJVN for 25 years. The project shall be commissioned within 21 months from the date of signing of PPA. The company is implementing this project along with other renewable projects of 4,090.5 MW capacity through its wholly-owned subsidiary SJVN Green Energy.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
