SJVN shares rise after green power arm bags 200 MW solar project from MSEDCL

Tentative cost of construction / development of this project shall be around Rs 1,000 crore, company said.

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The SJVN share price gained 2 percent in early trade on March 20 after its green power wing bagged a solar project from the Maharashtra State Electricity Distribution Company (MSEDCL).

SJVN Green Energy Limited, a wholly owned subsidiary of the company, received a letter of award from MSEDCL for a 200-MW solar power project to be developed anywhere in the state of Maharashtra, SJVN said in a press release.

The project shall be constructed within a period of 18 months from the date of signing of Power Purchase Agreement (PPA) with MSEDCL.

The tentative cost of construction or development of this project shall be around Rs 1,000 crore, the company said.

The project is expected to generate 455.52 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 10480.82 MU, it added.

Commissioning of this project is expected to reduce 5,13,560 tonnes of carbon emission and would contribute towards the government’s mission of 500 GW renewable capacity by 2030.

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At 9:18am, SJVN was quoting at Rs 31.52, up Rs 0.57, or 1.84 percent, on the BSE.

The share touched a 52-week high of Rs 42.25 and a 52-week low of Rs 25.45 on 05 December, 2022 and 26 May, 2022, respectively. It was trading 25.4 percent below its 52-week high and 23.85 percent above its 52-week low at the time of filing this story.