SJVN bags 200 MW solar power project from MSEDCL

Shares of SJVN rallied after bagging a project worth Rs 1200 crore from MSEDCL.

At 11 am, shares of SJVN Ltd were trading at Rs 41.25, up by 2.00 points or 5.09% from its previous closing of Rs 39.25 on the BSE. The shares of the company opened at Rs 40.60 and have touched a high and low of Rs 42.25 and Rs 40.60, respectively.

SJVN, through its wholly owned subsidiary SJVN Green Energy, has won a 200 MW solar power project on a Build Own and Operate (BOO) basis from the Maharashtra State Electricity Distribution Company (MSEDCL) in an e-RA held on December 02, 2022.

The project's estimated cost is around Rs 1200 crore, and it is anticipated to produce 455.52 Million Units (MUs) of energy in its first year, with total estimated energy production for 25 years of about 10480.82 MUs. The Project's commissioning is anticipated to result in a 513560-tonne decrease in carbon emissions, which will help the Government of India achieve its goal of lowering emissions overall.

SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy. Currently, the Company’s Renewable Portfolio stands at 4320.5 MW out of which 179.5 MW is under operation, 1385 MW is under construction and 2756 are at different stages of implementation. The company has aligned its Shared Vision of 5000 MW by 2023, 25000MW by 2030 & 50000 MW capacity by 2040 with that of the Government of India’s target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in the clean energy transition of the nation.

The promoters holding in the company stood at 86.77%, while institutions and non-institutions held 6.79% and 6.43%, respectively.

The BSE group 'A' stock of face value of Rs 10 has a 52-week high of Rs 42.25 and a 52-week low of Rs 25.45. 

In the last one week high and low of the scrip stood at Rs 42.25 and Rs 38.40, respectively. The current market cap of the company is Rs 16072.86 crore.