SJVN shines on signing PPA with Bhakra Beas Management Board
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SJVN is currently trading at Rs. 68.70, up by 4.70 points or 7.34% from its previous closing of Rs. 64.00 on the BSE.
The scrip opened at Rs. 66.85 and has touched a high and low of Rs. 69.10 and Rs. 66.30 respectively. So far 940007 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.10 on 11-Sep-2023 and a 52 week low of Rs. 29.90 on 30-Sep-2022.
Last one week high and low of the scrip stood at Rs. 69.10 and Rs. 61.35 respectively. The current market cap of the company is Rs. 25150.69 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.72% and 7.51% respectively.
SJVN through its wholly owned subsidiary SJVN Green Energy (SGEL) has signed Power Purchase Agreement (PPA) with Bhakra Beas Management Board (BBMB) for 18 MW Solar Power. The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024.
The Project has been secured through open competitive bidding at a tariff of Rs 2.63 in the e-reverse auction organized by Punjab Energy Development Agency. The project will generate 39.42 Million Units of energy in the first year of operation and the cumulative energy generation over a period of 25 years would be about 917 Million Units. Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. Commissioning of this project is expected to reduce 44,923 tonnes of carbon emission.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
