SJVN to develop GUVNL 100 MW Solar Project anywhere in India

SJVN Ltd has secured 100 MW Solar Power Project through e-Reverse Auction conducted by Gujarat Urja Vikas Nigam Limited ("GUVNL").

The Company successfully bagged the quoted capacity of 100 MW Solar Project @ ₹2.63/Unit on Build Own and Operate basis through a tariff based competitive bidding process of GUVNL. This Ground Mounted Solar Project shall be developed by Company's wholly owned subsidiary i.e., SJVN Green Energy Limited ("SGEL") at a tentative cost of ₹550 crore. The project shall be developed anywhere in India and is expected to be commissioned within 18 Months from the date of signing of the Power Purchase Agreement ("PPA"). The PPA shall be signed between SGEL & GUVNL for 25 years.

The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units. Further, the commissioning of this solar project is anticipated to reduce 2,87,434 tonnes of carbon emissions.

With the addition of this project, Company's solar & wind portfolio stands at 5,090.5 MW out of which 179.5 MW is under operation, 1,860 MW is under construction and 3,051 MW is under various stages of implementation. The company is marching forward with vigour to achieve its Mission of 12,000 MW by 2026 and Shared Vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.

Shares of SJVN Limited was last trading in BSE at Rs. 91.57 as compared to the previous close of Rs. 89.59. The total number of shares traded during the day was 1087928 in over 5740 trades.

The stock hit an intraday high of Rs. 92.69 and intraday low of 89.38. The net turnover during the day was Rs. 99591771.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 100MW SolarPowerProject eReverseAuction GUVNL