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SJVN subsidiary wins 100 MW solar power project worth Rs 600 crore

Oct 13, 2023

By: BlinkX Research Team

A Letter of Award (LOA) for the development of a 100 MW solar power project from Rajasthan Urja Vikas Nigam (RUVNL) has been received by SJVN subsidiary SJVN Green Energy at a rate of Rs 2.62 per unit. The solar project will be developed on a build, own, and operate (BOO) basis.

This project's development is expected to cost about Rs 600 crore. Additionally, according to SJVN in a BSE filing dated October 12, the project is anticipated to create roughly 252 million units in the first year and about 5,866 million units overall during a 25-year period.

"This achievement reaffirms the commitment of the company to harness the energy from non-fossil fuel sources. Marching towards sustainable future, the company has aimed to be a 50,000 MW company by 2040," the filing said.

Over the past six months, the price of SJVN stock has increased by 113.56 percent. The benchmark Nifty50 index has given a return of 11.33 percent over the same duration.