SJVN share gains after arm commissions 100 MW solar power project at Gujarat
In Short – SJVN’s shares experience gains following the commissioning of its subsidiary’s 100 MW solar power project in Gujarat. This successful venture strengthens SJVN’s position in the renewable energy sector and highlights its commitment to sustainable energy development in India.
In Details – SJVN: Subsidiary SJVN Green Energy (SGEL) has commissioned a 100 MW Raghanesda solar power project in Banaskantha, Gujarat. SGEL has bagged this 100 MW solar power project at a tariff of Rs 2.64 per unit through competitive tariff bidding conducted by Gujarat Urja Vikas Nigam (GUVNL). A power purchase agreement for the same has been signed with GUVNL for 25 years. SJVN shares were up a percent at Rs 123.70 in the early trade on February 28 after the company’s arm commissioned a 100 MW solar power project in Gujarat.
SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of the company, has commissioned 100 MW Raghanesda Solar Power Project in the Banaskantha district of Gujarat. SGEL bagged the project at a tariff of Rs 2.64 a unit through competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). The power purchase agreement has been signed with GUVNL for 25 years, the company said.The project cost is Rs 642 crore and will generate 252.3 MUs in the first year and the estimated cumulative energy generation over a period of 25 years shall be 5,805 MUs.
