SJVN’s arm bags order from MSEDCL for a 200 MW Solar Power Project

SJVN’s arm bags order from MSEDCL for a 200 MW Solar Power Project

by 5paisa Research Team Last Updated: Mar 20, 2023 - 02:57 pm 733 Views
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The project is expected to be completed in 18 months, starting with the signing of the PPA with MSEDCL.

Receiving LoA from MSEDCL

SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for 200 megawatt (MW) Solar Power Project to be developed anywhere in the State of Maharashtra. The project shall be constructed in 18 months which shall be reckoned from the date of signing of the PPA with MSEDCL.

Tentative cost of construction/development of this project shall be around Rs 1,000 crore. The project is expected to generate 455.52 MUs in the 1st year and the cumulative energy generation over 25 years would be about 10480.82 MU. Commissioning of this Project is expected to reduce 5,13,560 Tonnes of carbon emission and would contribute towards the Government of India (GoI) mission of 500 GW Renewable Capacity by 2030. 

The company has aligned its Shared Vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW capacity by 2040 with that of the Government of India’s target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic and reliable partner, SJVN plans to play a vital role in the clean energy transition of the nation and vision to provide round-the-clock power to all.

Stock price movement 

At 2 pm, the shares of SJVN were trading at Rs 31.22, up by 0.27 points or 0.87% from its previous closing of Rs 30.95 on the BSE. Today, the stock opened at Rs 31.31 and has touched a high and low of Rs 32.10 and Rs 31.07 respectively. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high and low of Rs 42.25 and Rs 25.45, respectively. Last one week high and low of the scrip stood at Rs 32.79 and Rs 30.45 respectively. The current market cap of the company is Rs 12162.72 crore. The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.12% and 7.11%, respectively.

Company Profile 

SJVN is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects.

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