iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

SJVN Stock Up 8% After Landing 500 MW Solar Project

14 Mar 2024 , 09:11 PM

A Day after SJVN Green Energy Limited (SGEL), the company's renewables division, got the Letter of Intent (LOI) for the 500 MW Solar Project from Gujarat Urja Vikas Nigam Limited (GUVNL), shares of SJVN shot up almost 8% on March 14.

₹2,700 Crore is the estimated cost of development and construction for this project. The project will be developed at Khavda's GIPCL Solar Park.

Prior to this, on January 25, 2024, GUVNL conducted tariff-based competitive bidding, which resulted in SJVN Green Energy Limited winning the 500 MW (100 MW + 400 MW Green Shoe) project. The tariff was ₹2.54 / Unit on a Build Own and Operate (BOO) basis on e-RA.

SJVN shares closed 16.45% from the previous close on the National Stock Exchange (NSE), closing at ₹117.85. The PSU stock has produced multibagger gains of 243% during the past year.

The SJVN announcement states that GUVNL will carry out the power purchase agreement (PPA) as soon as the Gujarat Electricity Regulatory Commission (GERC) approves the rate. The project will subsequently be put into service within 18 months of the agreement's signing, or by November 2025.

In the first year following commissioning, SJVN is expected to generate a total of 1271.07 million units with this project. Over the course of 25 years, a cumulative energy of 29,245.4 million units will be generated.

When this project is put into service, it should lower carbon emissions by 1.43 million tonnes, which will help the Government of India achieve its goal of reducing carbon emissions. SJVN stated in a regulatory filing that "the company is on rapid progression to achieve its shared vision of 25,000 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," the business stated.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Energy
  • SGEL
  • SJVN
sidebar mobile


Read More

Most Read News

Indian markets end the day in red
28 May 2024|05:17 PM
Gaurav Banerjee to be CEO of Sony India
28 May 2024|05:18 PM
Indian markets in mixed zone
28 May 2024|02:23 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.