The power generation company said that its wholly owned subsidiary, SJVN Green Energy has commissioned 100 megawatt (MW) Raghanesda Solar Power Project located in district Banaskantha, Gujarat.
SJVN Green Energy has bagged 100 MW solar power project at a tariff of Rs 2.64 per unit through competitive tariff bidding conducted by Gujarat Urja Vikas Nigam (GUVNL). The power purchase agreement for the same has been signed with GUVNL for 25 years.The cost of construction of the project stood at Rs 642 crore. The project will generate 252.3 million units (MUs) in the first year and the estimated cumulative energy generation over a period of 25 years shall be 5,805 MUs.
The company is on rapid progression to achieve its shared vision of 25,000 MW by 2030 & 50,000 MW by 2040. This shared vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030, stated the company.
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 in Q3 FY24 as compared with Rs 287.42 crore posted in Q3 FY23. Revenue from operations fell 1.57% to Rs 543.31 crore during the quarter as compared with Rs 551.99 crore posted in corresponding quarter last year.
SJVN slipped 2.29% to currently trade at Rs 119.50 on the BSE.
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