SJVN Green Energy Ltd receives LOAs for 9,000 MW PM-KUSUM Scheme Solar Power Projects in Maharashtra

SJVN Ltd's wholly owned subsidiary SJVN Green Energy Limited ("SGEL") has received Letter of Awards for cumulative 1,352 MW of Solar Power Projects to be developed at various locations in the District of Nashik, Solapur, Ahmednagar & Pune Districts of Maharashtra under the Mukhya Mantri Saur Krushi Vahini Yojana.

These projects have been bagged by SGEL through competitive bidding by participation for 1,500 MW (500 MW in Round 1 and 1,000 MW in Round 2) tender floated by MSEB Agro Power Limited ("MSAPL"), Maharashtra for total capacity of 7,000 MW. The aforesaid scheme was launched for implementation of feeder level solarisation under component C of PM-KUSUM scheme.

Further, the total investment for development of these 1,352 MW Solar Power Projects will be about ₹7,436 Crores which shall be SGEL's first contribution towards the prestigious PMKUSUM Scheme. These projects shall be eligible upto a maximum Central Financial Assistance of 30% of the Project Cost.

The Company is on rapid progression to achieve its Shared Vision of 25,000 MW by 2030 & 50,000 MW by 2040. This Shared Vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030.

Shares of SJVN Limited was last trading in BSE at Rs. 122.20 as compared to the previous close of Rs. 119.45. The total number of shares traded during the day was 2102838 in over 17514 trades.

The stock hit an intraday high of Rs. 123.50 and intraday low of 118.15. The net turnover during the day was Rs. 253397712.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 SJVNGreenEnergy ElectricUtilities LOAs Maharashtra PMKUSUMScheme SolarPowerProjects