SJVN rises on getting LoI from GUVNL for 100 MW grid connected wind power project

SJVN is currently trading at Rs. 35.88, up by 0.08 points or 0.22% from its previous closing of Rs. 35.80 on the BSE.

The scrip opened at Rs. 35.80 and has touched a high and low of Rs. 36.07 and Rs. 35.76 respectively. So far 100531 shares were traded on the counter.

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SJVN

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 42.25 on 05-Dec-2022 and a 52 week low of Rs. 25.55 on 20-Jun-2022.

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.

SJVN has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) for 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 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 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 emission.

SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.

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