Power Sector Subsidiary Co. Bags 200 MW Wind Power Project, Stock Jumps 6.82% In 1 Week

SJVN Green Energy Limited, a wholly-owned subsidiary company of SJVN Ltd., operating in the Power sector, on June 12, 2023, informed the stock exchange that it has bagged the full quoted capacity of 200 MW Wind Power Project at Rs. 3.24/Unit on Build Own and Operate (BOO) basis through e-RA conducted on 12.06.2023.

The stock of SJVN rallied 6.82% in the last 1 month. Over the past 5 years, the stock performed well, giving positive returns. Check the details below:

SJVN Green Energy Ltd. bags 200 MW Wind Power Project

According to the regulatory filing by the Board of Directors of the company, "SJVN Green Energy Limited, a wholly owned subsidiary of the Company, participated in the Tariff based competitive Bidding process for Selection of Wind Power Developers for setting up of 1,200 MW ISTS connected Wind Power Projects in India (Phase-XIV) conducted by Solar Energy Corporation of India ("SECI") and bagged the full quoted capacity of 200 MW Wind Power Project @ ₹3.24/Unit on Build Own and Operate (BOO) basis through e-RA conducted on 12.06.2023."

It added, "The Power Sell Agreement (PSA) shall be executed after issuance of LOI from SECI. This Wind Power Project shall be developed by SJVN Green Energy Limited anywhere in India through EPC contract. Tentative cost of Construction / Development of this project is ₹1,400 Cr. The project is expected to generate 578.16 MUs annually and the cumulative energy generation over a period of 25 years would be about 14,454 MU. As per RfS the Project shall be commissioned in a period of 24 Months from the date of signing of PSA."

Furthermore, "The commissioning of this Project is expected to reduce 7,08,246 Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission."

Stock Outlook

On Tuesday, the stock jumped 0.71%, ended at Rs. 38.35 apiece on BSE. The stock jumped 4.64% in 1 month and 22.13% in 3 months, respectively It gave 39.71% positive return, 81.75% in 3 years, and 26.78% in 5 years, respectively.

The stock traded the 52 week high on 5 December 2022 at Rs. 42.25 apiece and 52 week low on 20 June 2022 at Rs. 25.55 apiece.

About - SJVN Green Energy Limited

SJVN Limited, a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Govt. of India, was incorporated on May 24, 1988 as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydro-power projects.

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