CCEA approves Investment of ₹2,614 Crore for SJVN Ltd's 382 MW Sunni Dam Hydro Project

The Cabinet Committee on Economic Affairs, chaired by Hon'ble Prime Minister Shri Narendra Modi has approved investment of ₹2,614 crore for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.

The project is scheduled to be commissioned within 63 months of the commencement of construction works and shall generate 1,382 million units annually. The project is being financed on 70:30 debt equity ratio and on completion it will earn 16.50% return on equity for the Company. This will reduce carbon dioxide emissions by 1.1 million tons annually.

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 and vision to provide round the clock power to all.

Shares of SJVN Limited was last trading in BSE at Rs. 34.35 as compared to the previous close of Rs. 35.10. The total number of shares traded during the day was 435959 in over 2708 trades.

The stock hit an intraday high of Rs. 35.30 and intraday low of 34.25. The net turnover during the day was Rs. 15100349.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 CCEAApproval Investment SunniDam HydroElectricProject HimachalPradesh