SJVN touches new 52-week high after bagging 100 MW solar power project

29 Jan 2024 , 02:41 AM

SJVN’s share price reached a 52-week high of Rs 134.40 on January 29 after the business announced that it secured a solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL).

At around 2.28 PM, SJVN was trading 11.21% higher at Rs 129.75, against the previous close of Rs 116.45 on NSE.

SJVN has obtained the full stated capacity of a 100 MW solar power project through an eReverse auction held by Gujarat Urja Vikas Nigam Limited (GUVNL),’ the business said in a statement. It won the project at Rs 2.54 per unit on a build-own-operate basis through a tariff-based competitive bidding process for GUVNL Phase XXI.

The company’s fully owned subsidiary SJVN Green Energy Limited (SGEL) will develop the ground-mounted solar project, which is expected to cost Rs 550 crore.

The project will be carried out by SGEL at a solar park established by Gujarat Industrial Power Corporation Limited in Khavda under an EPC contract.

The project is planned to generate roughly 252 million units in its first year of operation, with a total energy output of approximately 5,866 million units during a 25-year timeframe.

The project is expected to decrease 2,87,463 tonnes of carbon emissions. With this, the company’s project portfolio now stands at 59,872 megawatts.

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