Shares of SJVN Ltd were trading in the green and 4% higher on 4 March after the company’s subsidiary announced bagging a 200-megawatt Solar project.

In its regulatory filing, the company said that its wholly-owned subsidiary, SJVN Green Energy Limited, had participated in competitive bidding and bagged the project to develop a 200-megawatt solar power project at the 1,125 megawatts Gujarat Urja Vikas Nigam Limited Solar park at Khavda, Gujarat at a tariff of Rs 2.66 per unit.

The company will develop this 200-megawatt solar power project on a build, own, and operate basis for a total cost of Rs 1,100 crore.

According to the filing, the project is said to be completed in a period of 18 months, and after commissioning, the project will generate around 504 million units of energy in the first year, and the cumulative energy generation over a period of 25 years will range at around 11,732 million units.

This project will reduce 5,74,86 tonnes of carbon emissions and will contribute to India’s mission of reducing carbon emissions.

The company is rapidly moving towards its shared vision of achieving 25,000 megawatts by 2030 and 50,000 megawatts by 2040. This shared vision has been formed in sync with the Government of India’s vision of generating 50% of energy from non-fossil fuel-based energy resources by 2030.

At 12:20 pm, the shares of SJVN were trading 1.28% higher at Rs 122.50 on NSE.