SJVN stock rallies 2% after emerging lowest bidder for 200 MW grid solar Project in Bihar

31 Jan 2022 , 09:27 AM

SJVN stock was trading in the fast lane on Monday after the company emerged as the lowest bidder for a 200 MW grid-connected solar Project in the state of Bihar.

The Bihar Renewable Energy Development Agency (BREDA) has accepted the bid submitted by the Company and issued a letter of Intent for the supply of 200 MW power at the fixed quoted tariff of Rs3.11/- per kWh for sale of solar power as per terms & conditions laid down in the RFP, PPA, Corrigendum and BERC final order on a long term basis for 25 years.

SJVN in its regulatory filing said, “These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.”

At around 09.25 am, SJVN was trading at Rs30.60 per piece higher by 1.7% on Sensex.

The stock has touched an intraday high of Rs31.20 per piece in the early deals on BSE.