SJVN receives LOI from Gujarat Urja Vikas Nigam

SJVN has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) for the 100 MW Grid Connected Wind Power Project in Gujarat. 

SJVN Green Energy (a wholly owned subsidiary of SJVN) has bagged the 100 MW Wind Project at a tariff of Rs 3.17 per unit in an Open Competitive Tariff bidding process in May 2023. 

The tentative cost for the construction and development of this project will be Rs 800 crore. The project will be developed on Build Own and Operate (BOO) basis in Gujarat through an EPC contract. The Power Purchase Agreement (PPA) shall be signed between GUVNL and SJVN shortly. 

The project is expected to generate 281 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 7025 million units. The commissioning of this project is expected to reduce 344255 tonnes of carbon emissions. 

Incorporated in 1988, SJVN is a listed Mini Ratna Central Public Sector Entity under the Ministry of Power, GoI. SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy. SJVN is implementing hydro, thermal and solar power projects in Himachal Pradesh, Uttarakhand, Bihar and Gujarat in India and in Nepal and Bhutan.   

On Tuesday, the shares of SJVN closed at Rs 35.88, up by 0.22% from its previous closing of Rs 35.80 on the BSE. The scrip opened at Rs 35.80 and touched a high and low of Rs. 36.07 and Rs. 35.76 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 25.55, respectively. 

Last one week high and low of the scrip stood at Rs 36.62 and Rs 35.50 respectively. The current market cap of the company is Rs 14135.47 crore. 

The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.82% and 7.41% respectively.

Also Read: SJVN Ltd Secures Order Worth Rs 5,792 Crore