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Stock Report
SJVN Ltd signs Power Purchase Agreements for 300 MW Renewable Energy Projects
Posted On : 2023-07-20 12:22:58( TIMEZONE : IST )
SJVN Ltd has signed Power Purchase Agreements (PPA) for 300 MW Renewable Energy Projects. The PPAs have been signed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of the Company.
PPA has been signed for 200 MW Solar Power Project Capacity with Maharashtra State Electricity Distribution Company Limited (MSEDCL) at Mumbai and with Solar Energy Corporation of India Limited (SECI) for 100 MW Wind Power Capacity at Delhi.
The development cost of 200 MW Ground Mounted Solar Project in Maharashtra is around ₹1,200 Crores. SGEL has bagged the project at a tariff of ₹2.90 per unit through competitive bidding process in an e-reverse auction organized by MSEDCL. The project is expected to be commissioned in December 2024. The project is expected to generate 456 MU in the 1st year and the cumulative energy generation over a period of 25 years would be about 10,481 MUs.
The development cost of 100 MW Wind Power Project is around ₹750 crores. The project has been won @ ₹2.90 per unit on Build Own and Operate basis through e-reverse auction. The project is expected to be commissioned in March 2025. The project is expected to generate 289.27 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 7,231.75 MUs.
Commissioning of these projects is expected to reduce 8,67,916 Tonnes of carbon emission to contribute to Govt. of India's mission of net zero emission by 2070. In the backdrop of Government of India's vision to generate 500 GW Energy by 2030 from non-fossil sources, the Company has embarked on an ambitious journey for development of renewable energy. The Company is adding significant renewable projects to its portfolio to pursue this vision. These recent additions of new projects are leading the company towards actualizing its Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.
Shares of SJVN Limited was last trading in BSE at Rs. 48.71 as compared to the previous close of Rs. 45.80. The total number of shares traded during the day was 3922195 in over 10642 trades.
The stock hit an intraday high of Rs. 50.08 and intraday low of 46.37. The net turnover during the day was Rs. 191260777.00.
