SJVN bags 100 MW solar power project

The state-run company has bagged 100 MW Grid connected Solar PV power project from Punjab State Power Corporation (PSPCL).

SJVN said it bagged the project through tariff based competitive bidding process, on build own and operate (BOO) basis through e-reverse auction at a tariff of Rs 2.69 per unit.

The tentative cost of construction of this project is Rs 545 crore. The project is expected to generate 245.28 MU in the first year, while the cumulative energy generation over a period of 25 years would be around 5643.52 MU.

The power purchase agreement (PPA) shall be signed between PSPCL and SJVN for 25 years.

SJVN, a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Government of India, was incorporated on 24 May 1988, as a joint venture of the Government of India (GoI) and the Government of Himachal Pradesh (GOHP). SJVN has shareholders pattern of 59.92% with Government of India, 26.85% with Government of Himachal Pradesh.

On a consolidated basis, SJVN posted a 13% rise in net profit to Rs 342.13 crore on 1.7% decline in net sales to Rs 662.46 crore in Q1 FY22 over Q1 FY21.

Shares of SJVN rose 2.62% to Rs 29.40 in the special one-hour Muhurat trading session on Thursday, 4 November 2021.

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