SJVN signs PPA for 200 MW wind projects; details inside

SJVN Ltd which is in the business of electric generation signed a Power Purchase Agreement (PPA) for 200 MW wind projects with Solar Energy Corporation of India Limited (SECI). SJVN Green Energy Limited (SGEL) a wholly owned subsidiary of the company had participated in the tariff-competitive bidding process conducted by SECI for the selection of wind power developers for setting up 1200 MW grid-connected wind power projects anywhere in India.

SGEL bagged 200 MW at a tariff of Rs 3.24 per unit on build own and operate (BOO) basis in an open competitive tariff bidding process. The 200 MW Wind project will be developed by SGEL anywhere in India through an EPC contract.

With the allotment of this project, the wind portfolio of the Company now stands at 497.6 MW. The tentative cost for the development of this project is Rs 1,400 crore. The project is expected to generate 482 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 12,050 million units. The Project will be commissioned by November 2025, within 24 Months from the effective date of the PPA signing. This project will help in achieving the company’s mission of 12,000 MW by 2026 and 50,000 MW installed capacity by 2040.

In the last trading session, the stock closed at Rs 75.17. Today, it opened at Rs 76.70 and currently it is trading at Rs 76.76, up by a 1.97% increase. Company’s 52-week high stands at Rs 83.69 while its 52-week low is at Rs 30.39. The company currently boasts a market capitalization of approximately Rs 30,121 crore. Over the past six months shares of the company have given multibagger returns of 107.54%, in the same time frame BSE Utilities have changed by 32.04%.

SJVN is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects.

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