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Stock Report
SJVN targeting to develop 10,000 MW Solar Power Projects
Posted On : 2022-02-09 07:14:02( TIMEZONE : IST )
SJVN Limited ("SJVN") has submitted a Letter of Intent (LoI) to develop solar power projects to the tune of 10,000 MW in next five years in the state of Rajasthan. The Letter of Intent (LOI) was duly acknowledged by the Government of Rajasthan with assurances of full support for the same. The LoI was submitted in the august presence of Hon'ble Chief Minister of Rajasthan Sh Ashok Gehlot, by Chairman & Managing Director, SJVN Sh Nand Lal Sharma. Additional Chief Secretary, Power, Govt. of Rajasthan & CMD RRECL Sh Subodh Agarwal and other senior officials of SJVN & Govt. of Rajasthan were also present on this occasion.
SJVN intents to establish 10,000 MW Renewable Power Projects/Parks on the Land Banks to be allocated by Rajasthan Renewable Energy Corporation Limited in the State. An estimated investment of Rs 50,000 crore is proposed by SJVN on developing these Projects. The commercial production will commence in a phased manner and the power generated will be transmitted to the beneficiaries through nearest SubStations. Power Purchase Agreements for the generated energy will be signed through competitive tariff-based opportunities available in the market.
SJVN has proposed to develop Solar Power Projects in Rajasthan as the state has largest solar power potential in the country. It receives the highest solar radiation (5.72 Kwh/m2/day) and also has the highest number of more than 325 clear sunny days in a year. All these factors work in our favour of developing the Projects.
These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.
Shares of SJVN Limited was last trading in BSE at Rs. 30.95 as compared to the previous close of Rs. 31.25. The total number of shares traded during the day was 328915 in over 796 trades.
The stock hit an intraday high of Rs. 31.50 and intraday low of 30.60. The net turnover during the day was Rs. 10200553.00.
