Shares of SJVN reached a 52-week high of Rs 73.70 during the early trade on 11 September after the company’s arm signed a power purchase agreement.
SJVN Green Energy, the company’s green energy arm, signed a power purchase agreement with the Bhakra Beas Management Board for the development of an 18-megawatt power project, which will be developed on the land parcels of Bhakra Beas in Himachal Pradesh and Punjab.
The project is scheduled to be commissioned by August 2024.
The company secured the project through open competitive bidding at a tariff of Rs 2.63 in the e-reverse auction that was organised by the Punjab Energy Development Agency.
The power project is said to generate 39.42 million units of energy in a single year of operation, and the total energy generated in a period of 25 years will range across 917 million units.
The company plans to install over 10,000 megawatts of renewable energy capacity in the next three years.
The company has a vision of becoming a company of 25,000 megawatts by 2030 and 50,000 megawatts by 2040.
At 11:35 am, the shares of SJVN were trading at Rs 73.55 or 14.92% above its previous close of Rs 64 on NSE.