SJVN signs PPA for 200 MW Wind Project with SECI

SJVN Ltd has signed a Power Purchase Agreement ("PPA") for 200 MW Grid Connected Wind Power Project with Solar Energy Corporation of India Limited ("SECI").

SJVN Green Energy Limited ("SGEL"), a wholly owned subsidiary of the Company, had participated in the Tariff based competitive Bidding process conducted by SECI for Selection of Wind Power Developers for setting up 1,200 MW grid connected Wind Power Projects anywhere in India. SGEL bagged 200 MW at a tariff of ₹3.24 per unit on Build Own and Operate (BOO) basis in Open Competitive Tariff bidding process.

The 200 MW Wind Project will be developed by SGEL anywhere in India through EPC contract. With the allotment of this project, the wind portfolio of the Company now stands at 497.6 MW.

The tentative cost for development of this project is ₹1,400 Crores. The project is expected to generate 482 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 12,050 million units. The Project will be commissioned by November 2025 i.e., within 24 Months from effective date of PPA signing.

This capacity addition will strengthen the footprints of the Company in the renewable energy sector and will help in achieving the Government of India's target of 50 percent installed capacity from non-fossil fuel sources by 2030. This will also help in achieving the Company's new Mission of 12,000 MW by 2026 and the ambitious Shared Vision of 50,000 MW installed capacity by 2040.

Shares of SJVN Limited was last trading in BSE at Rs. 75.17 as compared to the previous close of Rs. 75.67. The total number of shares traded during the day was 1480104 in over 5678 trades.

The stock hit an intraday high of Rs. 76.30 and intraday low of 75.00. The net turnover during the day was Rs. 111838190.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 SJVNGreenEnergy SECI PPA