Download Unicorn Signals App

Powered By EquityPandit

SJVN Shares Gain as Company Received LoI for 200 MW Solar Power Purchase

SJVN Green Energy Limited won 200 megawatts for a tariff of Rs 3.24 per unit.

Shares of SJVN were trading in the green and 1% above on 8 November after the company announced that it had received a LoI (Letter of Intent) from Uttarakhand Power Corporation Limited for the purchase of 200 megawatts of solar power.

The Uttarakhand Power Corporation Limited intends to purchase 200 megawatts of power for Rs 2.57 per unit from the company’s 1,000 megawatts Bikaner Solar Project.

The solar project is being developed through its wholly-owned subsidiary of the company, SJVN Green Energy Limited, under the CPSU Scheme, with viability gap funding support from the Government of India.

The Board of Directors of the company are set to meet on 9 November to consider and approve the financial result for the July-September quarter of the current fiscal year.

In October, a wholly-owned subsidiary of the company, SJVN Green Energy Limited, signed an 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.

SJVN Green Energy Limited has also received a LoA (Letter of Award) from Rajasthan Urja Vikas Nigam, Rajasthan, for the development of a 100-megawatt solar power project for a tariff of Rs 2.62 per unit. The solar project will be developed on the basis of build, owning, and operating.

At 1:56 pm, the shares of SJVN were trading 0.52% higher at Rs 76.90 on NSE.

Get Daily Prediction & Stocks Tips On Your Mobile