The shares of state-owned SJVN Ltd jumped as much as 7.6 percent on Monday. The company on Saturday announced that its arm SJVN Green Energy has bagged a 200 MW solar project worth Rs 1,200 crore from Maharashtra State Electricity Distribution Company Ltd.
The shares of the company were trading 4.5 percent higher at Rs 41 on BSE at 9:26 am.
"Company through its wholly-owned subsidiary SJVN Green Energy Ltd has bagged 200 MW solar power project on Build Own and Operate (BOO) basis from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) through e-RA (Reverse Auction) conducted on December 2, 2022," a BSE filing said.
The tentative cost of this project is around Rs 1,200 crore and the project is expected to generate 455.5 Million Units (MUs) in the 1st Year and the cumulative energy generation over a period of 25 years would be about 10,480.8 MUs, it said.
The commissioning of the project is expected to reduce 5,13,560 tonnes of carbon emission and would contribute to the government of India's mission of reduction in carbon emission.
Currently the company's renewable portfolio stands at 4,320.5 MW, out of which 179.5 MW is under operation, 1,385 MW under construction and 2,756 is at different stages of implementation.
The company has aligned its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW capacity by 2040 with that of the government of India's target of achieving 50 percent energy from non-fossil fuel sources by 2030.
As a strategic and reliable partner, SJVN plans to play a vital role in clean energy transition of the nation, it stated.
With inputs from PTI
First Published: Dec 3, 2022 5:34 PM IST
