The shares of the hydroelectric power generation company gained up to 1 percent after the company’s subsidiary signed a power usage agreement for 500 MW of solar power and a power purchase agreement for 100 MW of solar power worth Rs 5,491 crore.
With a market capitalization of Rs 47,393.33 crore, the shares of SJVN Ltd were trading at Rs 120.60 per share, decreasing around 1.10 percent as compared to the previous closing price of Rs 122.90 apiece.
As per the company filing, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Ltd signed a power usage agreement for 500 MW solar and a power purchase agreement for 100 MW solar power with Rajasthan Urja Vikas and IT Services Limited (RUVITL). The project costs Rs. 5,491 crores and is projected to be operational by September 30, 2024.
Moreover, a Power Usage Agreement was signed to deliver 500 MW of power for Rs. 2.57 per unit from SGEL’s 1000 MW Bikaner Solar Power Project, which is being constructed under Phase II (Tranche-3) of the CPSU Scheme.
Additionally, The 1000 MW Solar Project is expected to generate 2454.84 million units in the first year and the cumulative energy generation over 25 years would be about 56,474 million units.
SJVN, a key CPSU under the Ministry of Power, is on track to meet its shared vision of 25,000 MW by 2030 and 50,000 MW by 2040. The Shared Vision aligns with the Government of India’s objective to generate 50% of energy from non-fossil fuels by 2030.
The company’s sales fell by 2%, from Rs 552 crore in Q3FY23 to Rs 543 crore in Q3FY24. During the same year, net profit declined by 51% from Rs 287 crore to Rs 139 crore.
It has delivered 57.49 percent in the last six months but a multi-bagger return of 285.19 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.85 Lakh in a year.
SJVN Limited is an India-based company that mostly creates energy and charges for it. The corporation produces and provides three primary products and services: electricity generation (hydro, wind, and solar), consultancy, and transmission.
Written by:- Abhishek Singh
Disclaimer
The shares of the hydroelectric power generation company gained up to 1 percent after the company’s subsidiary signed a power usage agreement for 500 MW of solar power and a power purchase agreement for 100 MW of solar power worth Rs 5,491 crore.
With a market capitalization of Rs 47,393.33 crore, the shares of SJVN Ltd were trading at Rs 120.60 per share, decreasing around 1.10 percent as compared to the previous closing price of Rs 122.90 apiece.
As per the company filing, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Ltd signed a power usage agreement for 500 MW solar and a power purchase agreement for 100 MW solar power with Rajasthan Urja Vikas and IT Services Limited (RUVITL). The project costs Rs. 5,491 crores and is projected to be operational by September 30, 2024.
Moreover, a Power Usage Agreement was signed to deliver 500 MW of power for Rs. 2.57 per unit from SGEL’s 1000 MW Bikaner Solar Power Project, which is being constructed under Phase II (Tranche-3) of the CPSU Scheme.
Additionally, The 1000 MW Solar Project is expected to generate 2454.84 million units in the first year and the cumulative energy generation over 25 years would be about 56,474 million units.
SJVN, a key CPSU under the Ministry of Power, is on track to meet its shared vision of 25,000 MW by 2030 and 50,000 MW by 2040. The Shared Vision aligns with the Government of India’s objective to generate 50% of energy from non-fossil fuels by 2030.
The company’s sales fell by 2%, from Rs 552 crore in Q3FY23 to Rs 543 crore in Q3FY24. During the same year, net profit declined by 51% from Rs 287 crore to Rs 139 crore.
It has delivered 57.49 percent in the last six months but a multi-bagger return of 285.19 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.85 Lakh in a year.
SJVN Limited is an India-based company that mostly creates energy and charges for it. The corporation produces and provides three primary products and services: electricity generation (hydro, wind, and solar), consultancy, and transmission.
Written by:- Abhishek Singh
Disclaimer
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