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SJVN, the Indian public sector undertaking involved in hydroelectric power generation and transmission, zoomed over 7.7 per cent in its stock value to trade at 108.45 a piece on Thursday’s intraday deals. The company’s share prices have increased by 10 per cent year to date versus the BSE Sensex rise of 0.6 per cent.
This comes after the hydro power PSU, bagged a solar power project in Gujarat. SJVN Green Energy, the renewable arm of SJVN has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW Solar Project.
The tentative cost of construction and development of this project is Rs 2700 crore, the company said in a statement on Wednesday. The project is to be developed at GIPCL Solar Park at Khavda, Gujarat.
The solar project is set to be commissioned in a period of 18 months or by November 2025. This is expected to generate 1,271.07 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 29,245.40 million units.
The company in the statement said that commissioning of this project is expected to reduce 1,43,3025 tonnes of carbon emission and would contribute to the GoI mission of reduction in carbon emission.
