SJVN gets Government's nod to Kinnaur Solar plant

SJVN on Friday announced that the Ministry of New and Renewable Energy, Government of India has granted in-principle approval for development of 400MW solar park at Kinnaur district in Himachal Pradesh.

SJVN said the projects will assist in in achieving shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.

SJVN, a Mini Ratna, Category-I and Schedule 'A' CPSE under administrative control of Ministry of Power, Government of India. The company has a portfolio of more than 16,000 MW, out of which 2016.5 MW is under operation and the rest is under various stages of development.

The Government of India held 59.92% stake in the company while the Government of Himachal Pradesh held 26.85% stake as on 31 December 2021.

On a consolidated basis, the company's net profit rose 19.2% to Rs 235.46 crore on a 11.2% increase in net sales to Rs 549 crore in Q3 FY22 over Q3 FY21.

Shares of SJVN were trading 0.71% higher at Rs 28.35 on BSE.

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