SJVN Ltd., a Mini Ratna public sector undertaking engaged in hydroelectric power generation and transmission, gained 5.5 percent on Monday.

Share Market Live

NSE

The company announced that it has secured an order for a 100 MW wind power project at Rs 2.90 per unit on a build own and operate (BOT) basis through an e-Reverse auction. SJVN Ltd. is a joint venture of the Government of India (GoI) and the Government of Himachal Pradesh.

The company, formerly known as Satluj Jal Vidyut Nigam, participated in the tariff-based competitive bidding for setting up a 1,200MW Inter State Transmission System that connects wind projects in India (Phase - XIII) conducted by Solar Energy Corporation of India Limited (SECIL). SJVN Ltd's wholly-owned subsidiary SJVN Green Energy Ltd. will develop the project anywhere in India.

The estimated cost of the development of the project is Rs 700 crore. The project is expected to generate 262 MU in the first year of commissioning and cumulative energy generation over a period of 25 years will be about 6,574 MU.

The project is scheduled to be operational by 2025 i.e. 24 months from the date of signing the power sale agreement (PSA). The PSA shall be executed after the issuance of a Letter of Intent (LoI) by SECIL.

The commissioning of this project is expected to reduce 3,22,150 tonnes of carbon emissions and contribute to the Government’s mission to make India carbon-neutral by 2070.

SJVN Ltd. has aligned its shared vision of 5,000 MW by 2023, 25,000 MW by 2030, and 50,000 MW capacity by 2040 with that of the Government of India’s target of achieving 50 percent energy from non-fossil fuel sources by 2030. As a strategic and reliable partner, SJVN plans to play a vital role in the clean energy transition of the nation.

Recently, SJVN Green Energy achieved financial closure of its 1,000 MW solar power project under execution at Bikaner, Rajasthan.

SJVN shares ended 5.45 percent higher at Rs 33.85.