SJVN shines on receiving LoI from Punjab State Power Corporation

SJVN is currently trading at Rs. 54.74, up by 4.64 points or 9.26% from its previous closing of Rs. 50.10 on the BSE.

sjvn shines on reporting 3 fold jump in q4 net profit

The scrip opened at Rs. 52.65 and has touched a high and low of Rs. 55.00 and Rs. 52.65 respectively. So far 347096 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 55.90 on 24-Jul-2023 and a 52 week low of Rs. 27.90 on 5-Aug-2022.

Last one week high and low of the scrip stood at Rs. 55.90 and Rs. 45.32 respectively. The current market cap of the company is Rs. 19688.27 crore.

The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.72% and 7.51% respectively.

SJVN through its Wholly Owned Subsidiary i.e., SJVN Green Energy (SGEL) has received the letter of Intent (LoI) from Punjab State Power Corporation (PSPCL) on July 21, 2023 for procurement of 1200 MW Solar Power. SGEL will develop 1000 MW project anywhere in the country and balance 200 MW in the state of Punjab as per the RFS provisions.

The Solar projects shall be developed on Build Own and Operate (BOO) basis. Tentative cost of Construction / Development of 1200 MW project is around Rs 7000 crore. The projects are expected to generate 2997 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 69661 MUs.

As per RfS the Project shall be commissioned in a period of 18 Months from the date of signing of PPA and expected to be commissioned by December 2024. The PPA shall be signed between PSPCL and SGEL for 25 years.

The commissioning of this Project is expected to reduce 34.2 lakh Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission. With addition of 1200 MW capacity the RE portfolio of SJVN/SGEL has crossed the psychological barrier of 5 GW and that too backed by PPA for 25 years.

SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.