SJVN shares hit 52-week high as subsidiary bags 320-MW solar power deal in Assam

The company’s subsidiary SJVN Green Energy (SGEL) has received Letter of Awards for three solar power projects of cumulative capacity 320 MW.

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The share price of SJVN rallied 3 percent to hit a 52-week high of Rs 63.80 on August 29 after the company’s wholly owned subsidiary received the letter of awards from Assam Power Development Corporation Limited (APDCL).

The company’s subsidiary SJVN Green Energy (SGEL) has received Letter of Awards for three solar power projects of cumulative capacity 320 MW.

These three solar power projects will be developed on build own and operate (BOO) basis and are expected to generate cumulative 628 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 14,591 MUs.

The projects shall be commissioned in a period of 18 months from the date of signing of Power Purchase Agreements (PPA) and expected to be commissioned by March 2025.

Tentative cost of construction / development of these 320 MW projects is around Rs 1,900 crore.

SGEL had participated in three separate tariff based competitive bidding tenders of APDCL i.e. 50 MW, 70 MW and 200 MW.

The 50 MW and 70 MW projects are under solar park category and have been allotted at a tariff of Rs 3.92/Unit and the 200 MW is to be developed anywhere in Assam and has been allotted at a tariff of Rs 3.90/Unit.

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The said subsidiary had signed two PPAs with Punjab State Power Corporation Limited (PSPCL), one for 200 MW Solar Project(s) to be developed anywhere in Punjab and other for 1,000 MW Solar Project(s) to be developed anywhere in the country. These projects shall be developed within 18 months on build own and operate basis and will involve an investment of around Rs 7,000 crore, the company said in its August 14 exchange filing.