• Tue. Nov 29th, 2022

SJVN Commissions 75MW Solar Power Project in Uttar Pradesh; the stock climbs ~1.5%

ByChad J. Johnson

Oct 25, 2022
SJVN Limited informed that it has commenced commissioning of its 75MW solar power project located at Tehsil Kalpi, Jalaun district near Kanpur, Uttar Pradesh through its wholly owned subsidiary SJVN Green Energy Limited.

The full 75 MW capacity is expected to be operational by the end of this month, October 30, 2022.

The project will generate 168.34 million units (MU) in the first year, with a total energy production of 3919 MU over a period of 25 years. This will result in an annual revenue increase of around Rs45.11 crore, improving both the top and bottom of the balance sheet. A 25-year power purchase agreement (PPA) has been signed with Uttar Pradesh Power Corporation Limited (UPPCL), the company said in an exchange filing.

The Company’s renewable energy portfolio totals 4,007.5 MW, including 179.5 MW in operation, 1,370 MW under construction and 2,458 MW in various phases of implementation. With the completion of this 75 MW solar project, the total operating capacity will increase from 2016.5 MW to 2091.5 MW.

The company’s shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW of capacity by 2040 is in line with the Indian government’s goal of achieving 50% energy from non-fossil fuel sources by 2030.

By 9:56 am, SJVN was trading at Rs32.80 up Rs0.45 or 1.39% from its previous close of Rs32.35 on BSE. The certificate opened at Rs32.60 and hit the intraday high and low of Rs32.85 and Rs32.20 respectively.

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