Shares of state-run SJVN Ltd. are trading with gains of another 12% after the company secured the full quota capacity of a 100 MW Solar Power Project through the e-reverse auction process conducted by Gujarat Urja Vikas Nigam Ltd.
The exchange filing said that the order was bagged at a price of ₹2.54 per unit on a Build Own and Operate basis through a tariff bid competitive bidding process.
SJVN expects the project to generate about 252 million units in the first year of commissioning and the cumulative energy generation over 25 years would be around 5,866 million units.
The commissioning of this project will also reduce around 2.87 lakh tonnes of carbon emissions, the company said.
With this addition, SJVN's current portfolio is now at 59,872 MW.
Shares of SJVN are up over 12.6% at ₹131.20. The stock has gained the most since September last year.
More importantly, the stock has nearly doubled from its Offer for Sale price of ₹69 per share, at which the government had divested a 4.5% stake in September 2023.
Shares of SJVN are up 45% so far in January after surging over 165% in 2023.
(Edited by : Amrita)
First Published: Jan 29, 2024 11:21 AM IST
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