Multibagger Miniratna PSU engaged in the business of generation, transmission, and consultancy of renewable energy sources in talk after it signed four strategic JVs in India and overseas to set renewable projects of 8,778 MW.
At 11:08 a.m the shares of SJVN Limited were trading at Rs. 93.10, up 0.22 percent from its previous day’s close price of Rs. 92.90 and its market capitalization is Rs. 36,503 Crores. It has delivered multi-bagger returns of 166 percent in a year.
The Department of Investment & Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of the SJVN & Ministry of Power to form four Joint Venture companies for the development of Hydro & Renewable Projects in India & Nepal.
SJVN will be the leading partner in three Joint Venture companies, whereas the the company’s wholly-owned subsidiary SJVN Green Energy Limited (SGEL) will be the leading partner in the fourth JV.
The first JV is between SJVN and Maharashtra State Power Generation Company Limited to develop 5,000 MW RE Projects.
The second JV will be between the SJVN, Government of Arunachal Pradesh & Navyuga Engineering Company Limited to execute the development of the 1,878 MW Oju Hydro Electric Project in the state of Arunachal Pradesh.
In the third JV, SJVN will be collaborating with Nepal Electricity Authority & GMR Energy Limited for the implementation of a 900 MW Upper Karnali Hydro Electric Project in Nepal. In this JV, the Company & GMR will have an equal equity partnership.
Lastly, SJVN Green Energy Limited will be forming a JV with Assam Power Development Company Limited. The JV will be for developing 1,000 MW RE Projects in the state of Assam.
SJVN Limited is engaged in the business of generation, transmission, and consultancy of renewable energy sources like hydro energy, wind energy, and solar energy.
As per the recent data, SJVN has expanded and diversified in Hydro, Thermal, Solar, and wind Energy, Power Transmission, and Power Trading. Currently, the project portfolio of the Company is more than 56,000 MW, with a presence in Pan India and Nepal. The Company is marching towards achieving its Shared Vision of generating 50,000 MW by 2040
The company’s revenue from operations grew 21.57 percent from Rs. 2,417 Crores in FY22 to Rs. 2,938.35 Crores in FY23, accompanied by increasing profits of Rs. 989.8 Crores to Rs. 1,359.3 Crores.
Written by: Bharath K.S
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