On Friday, SJVN Ltd informed the exchanges that it has received a letter of intent (LOI) for a 75 MW grid-connected solar power project in the state of Uttar Pradesh through tariff-based competitive bidding by Uttar Pradesh New and Renewable Development Agency (UPNEDA).
SJVN will develop the solar power project at the location identified by UPNEDA i.e. at Parasan, Jalaun district, Uttar Pradesh. The company has quoted a tariff of Rs 2.68/KWh while the power generated from this project will be procured by UPNEDA for 25 years.
These projects will assist the company in achieving its ambitious shared vision of 5,000 MW by 2023, 12,000 MW by 2030, and 25,000 MW by 2040 and simultaneously, contribute towards the renewable energy capacity addition target of 175 GW by 2022 set by the Government of India.
Reacting to the news, the shares of SJVN were trading at Rs 27.15, up by 3.62 per cent or Rs 0.95 per share, against a 2 per cent gain in the benchmark index. The 52-week high of the company is recorded at Rs 28.65 while its 52-week low is Rs 19.10 on BSE.
Source: dsij
