SJVN gains ~1% as green energy arm bags 200 MW solar project in Khadva

18 Mar 2024 , 02:48 PM

SJVN Green Energy, an arm of the state-run SJVN, stated on Friday that it has received a letter of intent from Gujarat Urja Vikas Nigam (GUVNL) for a 200 MW solar project for ₹1,100 Crore.

SJVN Green Energy previously won the 200 MW Solar Project through tariff-based competitive bidding at a price of ₹2.66 per unit on a Build Own and Operate (BOO) basis, and GUVNL held an e-RA (e-reverse auction) on March 2, 2024, according to a statement.

The estimated cost of building and development for this project is ₹1,100 Crore. The project will be established in the Gujarat State Electricity Corporation Ltd. (GSECL) Solar Park in Khavda. The Power Purchase Agreement with GUVNL will be completed upon GERC’s tariff acceptance.

The Project will be commissioned within 18 months of signing the PPA (power purchase agreement).

The project is scheduled to generate 508.40 million units in the first year following commissioning, with a predicted cumulative energy output of around 11698.16 million units during a 25-year timeframe. This project’s commissioning is estimated to cut carbon emissions by 573210 tonnes.

At around 2.42 PM, SJVN was trading 1.28% higher at ₹126.20, against the previous close of ₹124.60 on NSE. The counter touched an intraday high and low of ₹130.80 and ₹125, respectively.

SJVN Limited produces and sells hydroelectric power. It also handles the design, operation, examination, planning, execution, development, and maintenance of hydroelectric power plants. The firm also provides construction and consulting services for hydroelectric, rail tunnels, and roads.

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