SJVN Subsidiary Wins Rs 600 Crore Solar Project in Rajasthan, Stocks Surge 2%

13 Oct 2023 , 12:44 PM

SJVN shares rise by nearly 2% in early trading on October 13 due to its subsidiary’s Rs 600 crore renewable power project win in Rajasthan. At the time of writing the stock was trading at Rs 72.80 which is a 2.80% than the previous day’s close. SJVN Green Energy, an SJVN subsidiary, secures a Letter of Award (LOA) for a 100 MW solar power project from Rajasthan Urja Vikas Nigam (RUVNL) in Rajasthan at a tariff of Rs 2.62 per unit.

The project will follow a build, own, and operate (BOO) model, with an estimated development cost of around Rs 600 crore. Over 25 years, the solar project is expected to generate approximately 5,866 million units, with an initial year projection of 252 million units.

SJVN also initiated the mechanical spinning of unit-I of the 60 MW Naitwar Mori Hydro Electric Project (NMHEP) in Uttarakhand on September 27, 2023. This project is anticipated to produce 265.5 million units of electricity annually. SJVN established a 37-km 220 KV transmission line to evacuate power from Naitwar Mori HEP from Bainol to Snail.

The company reiterates its commitment to sustainable energy and aims to reach 50,000 MW capacity by 2040.

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