SJVN expands footprint in wind energy, secures a 100 MW Wind Power Project

SJVN Limited has won the full quoted capacity of 100 MW Wind Power Project @ ₹2.90 per unit on Build Own and Operate basis through e- Reverse Auction.

The Company participated in the tariff based competitive bidding for setting up 1,200 MW Inter State Transmission System connected Wind Projects in India (Phase - XIII) conducted by Solar Energy Corporation of India Limited. The project will be developed anywhere in India through the Company's wholly owned subsidiary SJVN Green Energy Limited. The tentative cost of the development of this project is ₹700 crores. The project is expected to generate 262 MU in the first year of commissioning and cumulative energy generation over a period of 25 years will be about 6,574 MU.

The project will be commissioned in a period of 24 months from the date of signing of Power Sale Agreement (PSA). The PSA shall be executed after issuance of Letter of Intent by SECI. The commissioning of this Project is expected to reduce 3,22,150 Tonnes of carbon emission and would contribute in Government of India's mission to make our nation carbon neutral by 2070.

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. 32.05 as compared to the previous close of Rs. 33.80. The total number of shares traded during the day was 2039294 in over 11676 trades.

The stock hit an intraday high of Rs. 33.60 and intraday low of 31.75. The net turnover during the day was Rs. 66853519.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 100MW WindPowerProject BOO