13-10-2023 10:20 AM | Source: Accord Fintech
SJVN soars as its arm receives LoA for development of 100 MW Solar Power Project

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SJVN is currently trading at Rs. 72.55, up by 1.68 points or 2.37% from its previous closing of Rs. 70.87 on the BSE.

The scrip opened at Rs. 71.70 and has touched a high and low of Rs. 72.99 and Rs. 71.52 respectively. So far 17690 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 83.69 on 20-Sep-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. 72.99 and Rs. 69.00 respectively. The current market cap of the company is Rs. 27850.46 crore.

The promoters holding in the company stood at 81.85%, while Institutions and Non-Institutions held 6.64% and 11.51% respectively.

SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) has received Letter of Award (LoA) on October 6, 2023 at a tariff of Rs 2.62 / Unit for development of 100 MW Solar Power Project to be situated anywhere in the state of Rajasthan. The company has participated in the tariff based competitive bidding conducted by Rajasthan Urja Vikas Nigam (RUVNL) for development of Solar Power Project in the state of Rajasthan. The Solar project shall be developed on Build Own and Operate (BOO) basis.

Tentative cost of Construction / Development of this project is around Rs 600 crore. The project is expected to generate about 252 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 5866 MU. As per RfS the Project shall be commissioned in a period of 18 Months from the date of signing of PPA. The PPA shall be signed between RUVNL and SGEL for 25 years. The commissioning of this Project is expected to reduce 287434 Tonnes of carbon emission and would contribute in GoI 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.