Miniratna PSU Hits Lifetime High on Winning 3 Solar Power Projects in Assam

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Miniratna PSU Hits Lifetime High on Winning 3 Solar Power Projects in Assam
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the state-owned hydroelectric power generator SJVN (NS: SJVN ) recorded a new all-time high of Rs 63.8 apiece on Tuesday after surging 7% in the previous session. The stock has jumped 12.22% in these two days.

SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of the Miniratna public sector undertaking (PSU) has secured three solar power projects in Assam for a cumulative capacity of 320 MW.

The Letter of Awards (LOAs) has been awarded to SJVN Green Energy by Assam Power Development Corporation Limited (APDCL). The company had participated in three separate tariff-based competitive bidding tenders of APDCL, namely 50 MW, 70 MW and 200 MW. 

As per project details, the 50 MW and 70 MW LOAs fall under the solar park category and have been allotted to SGEL at a tariff of Rs 3.92/Unit. 

The 200 MW project has been allotted at a tariff of Rs 3.9 per unit and can be developed anywhere in Assam.

The three Solar power projects shall be developed on a Build Own and Operate (BOO) basis, and are expected to generate 628 MUs cumulatively in the first year. The cumulative energy generation over a period of 25 years is slated to be around 14,591 MUs.

The projects have been estimated to be commissioned in a period of 18 months after signing the PPA, likely by March 2025.

Further, SJVN states that the commissioning of these three solar power projects could reduce 7.14 Lakhs Tonnes of carbon emission, contributing to the Indian Government’s mission of carbon emission reduction.

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