SJVN bags 125 MW grid connected Solar Power Projects in Uttar Pradesh; Stock soars 4.5%

10 Jan 2022 , 03:57 PM

SJVN Limited has been issued a Letter of Intent by UPNEDA for a 75 MW grid-connected Solar Power Project at Gurhah, in Jalaun District, and a 50 MW grid-connected Solar Power Project at Gujrai, in Kanpur Dehat District in the state of Uttar Pradesh through Tariff Based Competitive Bidding.

SJVN will develop Solar Power Projects at the locations identified by UPNEDA near village Gurhah, Tehsil – Orai, Jalaun district, and other Projects near village Gujrai, Kanpur Dehat district in Uttar Pradesh. SJVN has quoted a tariff of Z2.98 / KWh for both these projects and power generated from these projects will be procured by UPNEDA for 25 years, company said in a filing on Friday.

These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 175 GW by 2022 set by Government of India.

Towards close of trade on Monday, SJVN Ltd was trading at Rs31.55 per share up by Rs1.35 or 4.47% from its previous closing of Rs30.20 per share on the BSE. The scrip opened at Rs31 and has touched a high and low of Rs32.35 and Rs30.70 respectively.