SJVN inks pact for 200 MW wind project with SECI; stock gains ~2%

17 Nov 2023 , 10:45 AM

On November 16, SJVN Limited, a government-owned hydroelectric power generating and transmission firm, said that it has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 200-MW grid-connected wind power project worth Rs 1,400 crore.

According to SJVN, the project is scheduled to generate 482 million units in the first year after commissioning, with a total projected energy output of 12,050 million units during a 25-year period. The project will be finished by November 2025, or within 24 months of the PPA’s effective date.

SJVN Green Energy Limited (SGEL), the company’s wholly-owned subsidiary, had taken part in SECI’s tariff-based competitive bidding procedure for selecting wind power developers for the establishment of 1,200 MW grid-connected wind power projects anywhere in India. SGEL obtained 200 MW in the Open Competitive price bidding procedure at a price of Rs 3.24 per unit on a Build Own and Operate (BOO) basis.

Under an EPC contract, SGEL will build the 200-MW wind facility somewhere in India. The installation of this project brings the Company’s wind portfolio to 497.6 MW.

At around 10.42 AM, SJVN was trading 1.80% higher at Rs 76.55, against the previous close of Rs 75.20 on NSE. The counter touched an intraday high and low of Rs 77.90 and Rs 76.20, respectively.

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