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SJVN Shares Gain 3% on Signing Power Purchase Agreement for 200 MW

Share price of SJVN rose as it got a LOI from GUVNL for a 200 MW solar power project.

Shares of SJVN were trading 3% higher and reached an intra-day high of Rs 77.90 on 17 November after the company signed a power purchase agreement with Solar Energy Corporation India.

In its regulatory filing on 16 November, the company signed a PPA (power purchase agreement) for a 200-megawatt grid-connected wind power project with Solar Energy Corporation of India for a total consideration of Rs 1,400 crore.

The project will generate approximately 482 million units in its first year of commissioning, with a total projected energy generation of 12,050 million units in a period of 25 years. The project has to be completed within 24 months of the effective date of the signing and is set to be completed by November 2025.

The company’s wholly-owned subsidiary, SJVN Green Energy Limited had participated in Solar Energy Corporation of India’s tariff-based competitive bidding for the selection of wind power developers for setting-up a 1,200 megawatt grid-connected wind power project in any part of the country.

In the Open Competitive Tariff bidding, SJVN Green Energy Limited won 200 megawatts for a tariff of Rs 3.24 per unit on a build, own, and operate basis.

SJVN Green Energy Limited will create the 200-megawatt wind power project in India under the engineering, procurement, and construction contract. With the addition of this new 200-megawatt project, the company’s wind portfolio has now reached a total of 497.6 megawatts.

In October, SJVN Green Energy Limited signed a MoU (memorandum of understanding) with M/s Ocean Sun, Norway, for collaboration in the field of new technologies in the Green and Clean Energy Sector.

Moreover, the company has also received a Letter of Award for a 100-megawatt solar power project from Rajasthan Urja Vikas Nigam at a tariff of Rs 2.62 per unit on a build, own, operate basis.

At 2:55 pm, the shares of SJVN were trading 2.19% higher at Rs 76.85 on NSE.

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