SJVN Green Energy Ltd achieves financial closure for 1000 MW solar power project

SJVN Green Energy Limited, a wholly owned subsidiary of the Company today accomplished a major millstone of Financial Closure of its 1,000 MW Solar Power Project under execution at Bikaner, Rajasthan.

EPC Contract of this project has been awarded to Tata Power Solar Systems Limited. Total Cost of the Project is ₹5,723.59 Crore. The Project is being financed at a debt equity ratio of 80:20. Government of India will be funding the viability gap of ₹447.20 Crore. The entire debt of ₹4,444.71 Crore has been tied up with IREDA including bridge loan of ₹223.60 Crore against the viability gap funding.

Project is scheduled to be commissioned on 03.01.2024. Once commissioned, it will generate 2,455 million units in its 1st year of operation and 56,838 million units during entire life of the project. The Company has secured this 1,000 MW largest Solar Power Project through competitive bidding from IREDA under the CPSU Scheme having tariff of ₹2.57 per unit.

The company has aligned its Shared Vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 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. 37.60 as compared to the previous close of Rs. 38.65. The total number of shares traded during the day was 641747 in over 3780 trades.

The stock hit an intraday high of Rs. 38.90 and intraday low of 37.30. The net turnover during the day was Rs. 24363817.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 SJVNGreenEnergy FinancialClosure SolarPowerProject 1000MW Bikaner Rajasthan