SJVN bags 200 MW solar power project from MSEDCL

SJVN, through its wholly owned subsidiary, SJVN Green Energy, secured 200 megawatt (MW) solar power project from Maharashtra State Electricity Distribution Company (MSEDCL).

The power generation company, through its arm, bagged 200 MW solar power project on build own and operate (BOO) basis from MSEDCL via reverse auction (e-RA) conducted on 2 December 2022.

SJVN said that the tentative cost of this project is around Rs 1,200 crore and the project is expected to generate 455.52 million units (MUs) in the 1st year and the cumulative energy generation over a period of 25 years would be about 10,480.82 MUs. The commissioning of the project is expected to reduce 5,13,560 tonnes of carbon emission and would contribute in Government of India's mission of reduction in carbon emission, it added.

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, 25,000MW by 2030 & 50,000 MW capacity by 2040 with that of Government of India's target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in clean energy transition of the nation.

SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission & power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.

On consolidated basis, the company's net profit rose 10.1% to Rs 445.44 crore despite of 0.4% decrease in net sales to Rs 878.48 crore in Q2 FY23 over Q2 FY22.

Shares of SJVN shed 0.13% to end at Rs 39.25 on Friday, 2 December 2022.

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