SJVN jumped 3.55% to Rs 33.55 after the state-owned utilities player awarded the contract for the construction of a 100 MW solar project at Raghanesda in Gujarat to Tata Power Solar Systems.
Tata Power Solar Systems (TPSSL), a 100% subsidiary of Tata Power Renewable Energy (TPREL), received the 'Letter of Award' (LoA) of Rs 612 crore for setting up a 100 MW ground-mounted solar project for SJVN.The bids for the project, located at the Raghanesda solar park plot C, Gujarat, were invited earlier this year. The LoA was awarded through tariff-based competitive bidding. The project will get commissioned within 11 months from the date of receiving of LoA.
TPREL is a subsidiary of The Tata Power Company. TPREL is a developer of renewable energy projects (including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, storage systems including battery storage) which it owns, operates and maintains.
SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in Power Transmission & Power Trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.
On a consolidated basis, net profit of SJVN rose 78.07% to Rs 609.23 crore on 51.57% rise in net sales to Rs 1004.11 crore in Q1 June 2022 over Q1 June 2021.
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