SJVN commissions 75 MW solar power project in Uttar Pradesh; stock climbs ~1.5%

25 Oct 2022 , 09:50 AM

SJVN Limited informed that it has started commissioning its 75MW Solar Power Project located at Tehsil Kalpi, District Jalaun near Kanpur, Uttar Pradesh via its wholly owned subsidiary SJVN Green Energy Limited.

The entire 75 MW capacity is expected to be operational by the end of this month, on October 30, 2022.

The project will generate 168.34 million units (MUs) in the first year, with a total energy output of 3919 MUs during a 25-year period. This will result in an annual revenue increase of about Rs45.11 crore, improving both the top and bottom lines of the balance sheet. A 25-year Power Purchase Agreement (PPA) has been signed with Uttar Pradesh Power Corporation Limited (UPPCL), said the company in an exchange filing.

The Company’s renewable portfolio totals 4007.5 MW, with 179.5 MW operational, 1370 MW under construction, and 2458 MW in various phases of implementation. With the completion of this 75 MW Solar project, total operating capacity will rise from 2016.5 MW to 2091.5 MW.

The company’s Shared Vision of 5000 MW by 2023, 25000 MW by 2030, and 50000 MW capacity by 2040 is in line with the Government of India’s goal of achieving 50% energy from non-fossil fuel sources by 2030.

At around 9.56 AM, SJVN was trading at Rs32.80 up by Rs0.45 or 1.39% from its previous closing of Rs32.35 on the BSE. The scrip opened at Rs32.60 and touched intraday high and low of Rs32.85 and Rs32.20 respectively.

For feedback and suggestions, write to us at [e-mail]