SJVN’s Stock Jumps 9% after securing a Rs 1,100 crore solar power project contract in Gujarat. The project, awarded by Gujarat Urja Vikas Nigam (GUVNL), entails the development of a 200 MW solar power project in GUVNL Phase XXII.
Stock Performance:
While the stock ended flat at Rs 146.95 in the previous BSE session, it soared 9.49% to Rs 160.90 in early trade today. With a market cap of Rs 61,599 crore, SJVN shares show low volatility with a beta of 0.7.
Technical Indicators:
The stock’s relative strength index (RSI) stands at 78.3, indicating overbought conditions. Additionally, SJVN shares trade above their moving averages for various periods.
Project Details:
SJVN Green Energy Ltd (SGEL) will develop the ground-mounted solar project, slated for commissioning within 18 months from the power purchase agreement date. The 25-year power purchase agreement between GUVNL and SGEL is expected to yield 508.4 million units in the first year post-commissioning, with a cumulative energy generation projection of 11,836.28 million units over 25 years.
Environmental Impact:
This project anticipates reducing carbon emissions by 5,79,976 tonnes, aligning with the government’s mission to curb carbon emissions.
About SJVN Ltd:
Engaged in electricity generation, SJVN Limited offers hydro, wind, and solar power generation, along with consultancy and transmission services. Its diverse portfolio also encompasses thermal power, power transmission, consultancy, and power trading.