SJVN gets Letter of Intent from GUVNL for 200 MW Solar Project

SJVN Green Energy Limited (SGEL), the renewable arm of SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW Solar Project in GUVNL Phase-XXIII.

Smt. Geeta Kapur, Chairman & Managing Director, SJVN apprised that SJVN Green Energy Limited has earlier bagged the 200 MW Solar Project through tariff based competitive bidding at a tariff of Rs. 2.66 per unit on Build Own and Operate (BOO) basis for which e-RA was conducted on 02.03.2024 by GUVNL.

Smt. Geeta Kapur further stated that the tentative cost of construction and development of this project is Rs.1100 Crores. The Project is to be developed at Gujarat State Electricity Corporation Limited (GSECL) Solar Park at Khavda. The Power Purchase Agreement shall be executed with GUVNL after adoption of tariff by GERC. The Project shall be commissioned in a period of 18 months from the date of signing of PPA.

The project is expected to generate 508.40 million units in the 1st year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 11698.16 million units. Commissioning of this Project is expected to reduce 573210 Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission.

Company is on rapid progression to achieve its Shared Vision of 25000 MW by 2030 & 50000 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. 124.80 as compared to the previous close of Rs. 118.55. The total number of shares traded during the day was 4430022 in over 27225 trades.

The stock hit an intraday high of Rs. 127.95 and intraday low of 113.35. The net turnover during the day was Rs. 530668464.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 SJVNGreenEnergy ElectricUtilities LOI GUVNL