SJVN Green Energy secures wind energy project worth Rs 1,400 crore; stock zooms ~4%

13 Jun 2023 , 10:28 AM

SJVN Limited’s subsidiary SJVN Green Energy secured a 200 MW wind power project order. The order received is worth Rs 1,400 crore in a competitive bidding conducted by Solar Energy Corporation of India. 

Following this development, the company’s counter surged as much as 4%.

At around 10.24 AM, SJVN was trading 1.18% higher at Rs 38.50, against the previous close of Rs 38.05 on NSE.

According to a filing on the Bombay Stock Exchange (BSE), SJVN Green Energy will execute the construction of the wind power project anywhere in India under an EPC (engineering procurement construction) contract.

The estimated cost of constructing/developing this project is Rs 1,400 crore, as mentioned in the statement.

SJVN Green Energy, a wholly-owned subsidiary of SJVN Ltd, took part in the competitive bidding process organized by the Solar Energy Corporation of India (SECI). The bidding process aimed to select wind power developers for the establishment of 1,200 MW inter-state transmission system (ISTS) connected wind power projects in India. This initiative was part of Phase-XIV of the project.

SJVN Green Energy successfully secured the entire designated capacity of a 200 MW wind power project during a reverse auction conducted on June 12, 2023. The project will be executed on a build, own, and operate (BOO) basis, and the agreed-upon tariff rate is Rs 3.24 per unit.

The project’s total energy generation over a span of 25 years is estimated to be approximately 14,454 Mus, while per year production would be 578.16 million units (Mus).

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