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SJVN soars as its arm receives LoA from Assam Power Development Corporation
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SJVN is currently trading at Rs. 62.69, up by 1.89 points or 3.11% from its previous closing of Rs. 60.80 on the BSE.
The scrip opened at Rs. 62.50 and has touched a high and low of Rs. 63.80 and Rs. 62.25 respectively. So far 1548750 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 63.80 on 29-Jul-2023 and a 52 week low of Rs. 28.20 on 29-Aug-2022.
Last one week high and low of the scrip stood at Rs. 63.80 and Rs. 56.40 respectively. The current market cap of the company is Rs. 23893.15 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 received Letter of Awards (LoA) from Assam Power Development Corporation (APDCL) for three Solar Power Projects of cumulative capacity 320 MW. SGEL had participated in three separate tariff based competitive bidding tenders of APDCL i.e. 50 MW, 70 MW and 200 MW. The 50 MW and 70 MW projects are under solar park category and have been allotted at a tariff of Rs 3.92/Unit and the 200 MW is to be developed anywhere in Assam and has been allotted at a tariff of Rs 3.90/Unit.
These three Solar power projects shall be developed on Build Own and Operate (BOO) basis. The projects are expected to generate cumulative 628 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 14591 MUs. As per RfS the Projects shall be commissioned in a period of 18 Months from the date of signing of PPA and expected to be commissioned by March 2025. The PPA shall be signed between APDCL and SGEL for 25 years. Tentative cost of Construction / Development of these 320 MW projects is around Rs 1900 crore. The commissioning of these Projects is expected to reduce 7.14 lakhs tonnes of carbon emission and would contribute in Government of India’s mission of reduction in carbon emission.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
