SJVN shines on securing 100 MW Solar Power Project through e-Reverse Auction
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SJVN is currently trading at Rs. 94.26, up by 2.69 points or 2.94% from its previous closing of Rs. 91.57 on the BSE.
The scrip opened at Rs. 94.55 and has touched a high and low of Rs. 95.45 and Rs. 94.00 respectively. So far 673491 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.40 on 15-Dec-2023 and a 52 week low of Rs. 30.39 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 95.45 and Rs. 81.46 respectively. The current market cap of the company is Rs. 35985.13 crore.
The promoters holding in the company stood at 81.85%, while Institutions and Non-Institutions held 6.64% and 11.51% respectively.
SJVN has secured 100 MW Solar Power Project through e-Reverse Auction conducted by Gujarat Urja Vikas Nigam (GUVNL). The Company successfully bagged the quoted capacity of 100 MW Solar Project at Rs 2.63/Unit on Build Own and Operate basis through a tariff based competitive bidding process of GUVNL. This Ground Mounted Solar Project shall be developed by Company's wholly owned subsidiary i.e., SJVN Green Energy (SGEL) at a tentative cost of Rs 550 crore. The project shall be developed anywhere in India and is expected to be commissioned within 18 Months from the date of signing of the Power Purchase Agreement (PPA). The PPA shall be signed between SGEL & GUVNL for 25 years.
The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units. Further, the commissioning of this solar project is anticipated to reduce 2,87,434 tonnes of carbon emissions.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy
