SJVN bags another 83MW floating solar project in Madhya Pradesh; Stock soars 2%

11 Nov 2022 , 09:18 AM

SJVN has secured 83 MW Floating Solar Project in Madhya Pradesh. This Project has been secured at Rs3.70/unit on Build Own and Operate basis in a e-Reverse Auction (e-RA) organized by REWA Ultra Mega Solar Limited (“RUMSL”).

SJVN will develop this project in India’s largest Floating Solar Park at Omkareshwar in District Khandwa, Madhya Pradesh. The cost of developing the Floating Solar Project will be approximately Rs585 crore. After commissioning, the project will generate 187 million units in first year & 4410 million units over a period of 25 years. The commissioning of this Project is expected to reduce approximately 2,16,074 tonnes of carbon emission in 25 years.

The Power Purchase Agreement (“PPA”) will be signed between RUMSL & SJVN for 25 years. The project shall be commissioned within a period of 21 months from the date of signing of PPA.

SJVN is implementing this Project along with other Renewable Projects of 4090.5 MW capacity through its wholly owned subsidiary SJVN Green Energy Limited.

SJVN is on a rapid expansion and capacity addition journey. With present portfolio of around 42,000 MW, the company is marching forward to achieve its Shared Vision of 5000 MW by 2023, 25000 MW by 2030 & 50000 MW capacity by 2040.

At around 9:16 AM, SJVN Ltd is currently trading at Rs37.70 per share up by Rs0.75 or 2.03% from its previous closing of Rs36.95 per share on the BSE.

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