SJVN hits 52-week high on bagging 300 MW projects worth Rs 1,950 crore

20 Jul 2023 , 01:58 PM

SJVN Limited informed that its wholly owned subsidiary, SJVN Green Energy Limited (SGEL), has entered into Power Purchase Agreements (PPA) for 300 MW Renewable Energy Projects.

Following this development, the stock hit a new 52-week high of Rs 50.85 in today’s trade.

At around 1.46 PM, the company’s counter was trading 1.64% higher at Rs 49.50, against the previous close of Rs 48.70 on NSE. 

PPAs have been signed with Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Mumbai for 200 MW Solar Power Project Capacity and with Solar Energy Corporation of India Limited (SECI) in Delhi for 100 MW Wind Power Capacity.

The cost of developing a 200 MW ground-mounted solar project in Maharashtra is estimated to be about Rs 1,200 crore. Through a competitive bidding process in an e-reverse auction arranged by MSEDCL, SGEL won the project at a tariff of Rs 2.90 per unit. 

The said project is scheduled to be completed in December 2024. The project is expected to generate 456 MU in the first year, with a total energy generation of around 10,481 MUs during a 25-year timeframe.

The development cost of 100 MW Wind Power Project is estimated to be around Rs 750 crore. Through an e-reverse auction, the project was won for Rs 2.90 per unit on a Build Own and Operate basis. The company expects the project to be completed by March 2025. 

The project plans to generate 289.27 MUs in the first year, with a total energy generation of approximately 7,231.75 MUs during a 25-year timeframe.

These projects are estimated to reduce 8,67,916 Tonnes of CO2 emissions on successful commissioning, contributing to the Government of India’s goal of net zero emissions by 2070.

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