SJVN ventures into Hydro & Solar Power Project Development in Odisha

SJVN Ltd's Wholly Owned Subsidiary SJVN Green Energy Limited has signed a Memorandum of Understanding with Grid Corporation of Odisha for developing 1000 MW Hydro Electric Projects and 2000 MW Solar Power Projects in Odisha by incorporating a Joint Venture Company.

The development of these projects will attract an investment of Rs.20,000 Crores and is expected to generate 4207 Million Units (MUs) in first year and a cumulative generation of around 96797 MUs over a period of 25 years. It will also result in the reduction of reduce approximately 206143 tonnes of carbon emission in the first year and 4743053 during its entire life span.

The company has aligned its Shared Vision of 5000 MW by 2023, 25000MW by 2030 & 50000 MW capacity by 2040 with that of Government of India's target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in clean energy transition of the nation.

Shares of SJVN Limited was last trading in BSE at Rs. 39.30 as compared to the previous close of Rs. 39.90. The total number of shares traded during the day was 726313 in over 3464 trades.

The stock hit an intraday high of Rs. 40.50 and intraday low of 38.80. The net turnover during the day was Rs. 28780167.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 SJVNGreenEnergy MoU Odisha HydroElectricProject SolarPowerProject JV