SJVN's Subsidiary Secures 200 MW Wind Power Project, Shares Surge 4%

13 Jun 2023 , 11:15 AM

SJVN, the power generation company, witnessed a surge of 4% in its shares on June 13 following its subsidiary’s success in securing the entire quoted capacity of 200 MW for a wind power project.

At the time of writing, the stock was trading Rs38.60 in the NSE, which is 1.45% higher than the previous day’s close.

SJVN’s subsidiary, SJVN Green Energy, participated in a competitive bidding process organized by the Solar Energy Corporation of India (SECI). The bidding aimed to select wind power developers for the establishment of 1,200 MW interconnected wind power projects in India, specifically in Phase-XIV. SJVN Green Energy successfully secured the entire quoted capacity of 200 MW for a wind power project, as stated by the company in an exchange filing.

The project will be executed on a Build Own and Operate (BOO) basis, with a tariff of Rs 3.24 per unit for the electricity generated. The selection process involved an electronic reverse auction (e-RA) mechanism, providing transparency and efficiency.

SJVN Green Energy will develop the wind power project through an engineering, procurement, and construction (EPC) contract, with an estimated cost of Rs 1,400 crore for construction and development.

The anticipated energy generation from the project is approximately 578.16 million units annually, with a cumulative energy generation of around 14,454 million units over a span of 25 years. The project is expected to be commissioned within 24 months from the date of signing the Power Supply Agreement (PSA).

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