SJVN Ltd achieves financial closure for Bagodara Solar Power Project

SJVN Ltd has achieved Financial Closure for Bagodara Solar Power Project (BSPP, 70 MW), Gujarat by allocating necessary debt of Rs. 267.30 Crore out of total project cost Rs. 334.12 Crore required for the project from its foreign currency term loan already in place.

The Project has already commenced its construction activities, contract agreement got signed in September, 2021 and moving fast forward to generate 178.20 Million unit in its 1st year of operation. Project is scheduled to generate electricity from October, 2022, a major feat for SJVN in renewable energy to contribute the national target of 175 GW renewable energy by the end of current year. The project has been bagged by SJVN from GUVNL at a tariff of 2.21/Kwh at a 28.8% CUF.

This project will assist the Company 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. 27.30 as compared to the previous close of Rs. 27.20. The total number of shares traded during the day was 334855 in over 827 trades.

The stock hit an intraday high of Rs. 27.55 and intraday low of 27.20. The net turnover during the day was Rs. 9177347.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 FinancialClosure BagodaraSolarPowerProject