SJVN achieves financial closure by signing loan agreement worth Rs494 crore; stock climbs ~3%

19 Apr 2022 , 11:34 AM

SJVN Limited informed that it has achieved the financial closure by signing of loan agreement amounting to Rs494 crore with Himachal Pradesh State Co-Operative Bank for the development of 66 MW Dhaulasidh REP (DSHEP) under the jurisdiction of Hamirpur and Kangra District of Himachal Pradesh.

The company has already commenced the construction activities of this project in May 2021 and is moving fast forward to generate 304 million units under a 90% dependable year of clean Hydro Power applicable from FY 2025-26 with levelized tariff of 4.46/Kwh.

The total cost of the project is Rs688 crore of DSHEP and has to be financed through a Debt Equity Ratio of 80:20.

SJVN’s stock is currently trading at Rs29.85 up by Rs0.9 or 3.11% from its previous closing of Rs28.95 on the BSE. The scrip opened at Rs29.15 and has touched intraday high and low of Rs29.95 and Rs29.10 respectively.