SJVN hits 52-week high on winning 100 MW solar power project – EQ

In Short : SJVN Limited’s stock has reached a 52-week high following its success in securing a 100 MW solar power project. This achievement likely reflects positive investor sentiment and confidence in the company’s growth prospects within the renewable energy sector.

In Detail : The ground mounted project will be developed by the company through its subsidiary, SJVN Green Energy Limited, at a tentative cost of Rs 550 crore

SJVN share price touched a 52-week high of Rs 124.40 in the early trade on January 29 after the company said it bagged a solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL).

At 9.17 am, SJVN was quoting at Rs 124.40, up Rs 7.75, or 6.64 percent, on the BSE.

“….. has secured full quoted capacity of 100 MW solar power project through eReverse auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL),” the company said in a release. It got the project at Rs 2.54 a unit on build own and operate basis through a tariff based competitive bidding process of GUVNL Phase XXI.

The ground mounted solar project would be developed by the company through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) at a tentative cost of Rs 550 crore.

The project shall be executed by SGEL in solar park being developed by Gujarat Industrial Power Corporation Limited in Khavda through an EPC contract.

The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units.

The project is anticipated to reduce 2,87,463 tonnes of carbon emissions. With this, the company’s project portfolio stands at 59,872 MW.