SJVN announced that its wholly owned subsidiary, SJVN Green Energy (SGEL) has received letter of intent (LoI) for 500 MW solar power project from Gujarat Urja Vikas Nigam (GUVNL).
SGEL has earlier bagged the 500 MW (100 MW + 400 MW green shoe) project through tariff based competitive bidding at a tariff of Rs 2.54 /Unit on build own and operate (BOO) basis on e-RA was conducted on 25 January 2024 by GUVNL.The tentative cost of construction and development of this project is Rs 2700 crore. The project is to be developed at GIPCL Solar Park at Khavda.
The power purchase agreement shall be executed with GUVNL after adoption of tariff by GERC. The project shall be commissioned in a period of 18 Months from the date of signing of PPA, which by November 2025.
The project is expected to generate 1,271.07 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 29,245.40 million units.
The commissioning of this project is expected to reduce 14,33,025 tonne of carbon emission and would contribute in GoI mission of reduction in carbon emission.
SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
The companys consolidated net profit dropped 51.65% to Rs 138.97 crore on 1.57% decline in revenue from operations to Rs 543.31 crore in Q3 FY24 over Q3 FY23.
The scrip shed 7.11% to currently trade at Rs 104.45 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
