SJVN wins solar power project in Gujarat

In terms of the letter of acceptance (LoA) issued by Gujarat Urja Vikas Nigam (GUVNL), SJVN will develop 70 megawatt solar power project in Gujarat, including arrangement of land with long term connectivity with grid.

Tariff of the electricity supplied will be Rs 2.21/KWh and power generated from this project will be procured by GUVNL for 25 years.

These projects will support SJVN in achieving its ambitious shared vision of electricity generation of 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 175 GW by 2022 set by Government of India. The announcement was made post trading hours yesterday, 30 March 2021.

Shares of SJVN were down 1.13% to Rs 26.35 on BSE. The company's consolidated net profit fell 8.6% to Rs 197.57 crore on a 1.1% rise in net sales to Rs 493.87 crore in Q3 December 2020 over Q3 December 2019.

SJVN is a Mini Ratna, Category-I and Schedule 'A' CPSE under administrative control of Ministry of Power, Govt. of India. Beginning with a single project and single state operation, the company has commissioned five projects totaling 2015.2 MW of installed capacity including wind and solar power.

As of 31 December 2020, the Government of India held 59.92% stake while the Government of Himachal Pradesh held 26.85% stake in the company.

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