SJVN is currently among the top five gainers on the BSE; from its close of Rs.116.65, the stock today at Rs.120.96 and going on to hit a lifetime high at Rs.134, up 14.5%.
The stock hit a high after the company stated that it has secured a 100 MW Solar Power Project through eReverse Auction conducted by Gujarat Urja Vikas Nigam (GUVNL) @ ?2.54/Unit on Build Own and Operate basis through a tariff based competitive bidding process of GUVNL Phase XXI.
This project will be developed by SJVN’s wholly owned subsidiary, SJVN Green at a tentative cost of Rs.550 crore.
The Power Purchase Agreement shall be executed after issuance of Letter of Award from GUVNL. The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units.
Further, the commissioning of this solar project is anticipated to reduce 2,87,463 tonnes of carbon emissions.
With this addition, the company’s project portfolio stands at 59,872 MW. The company’s mission is 12,000 MW by 2026 and shared vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.