SJVN shares in news today as firm inks 18 MW solar power agreement

Shares of SJVN Ltd are in focus today after the company through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) inked a power purchase agreement (PPA) with Bhakra Beas Management Board (BBMB). Additionally, India Ratings & Research has affirmed the ratings on Unsecured, Rated, Listed, Redeemable Non-Convertible Debentures issued by the company. The rating has been affirmed as AA plus with stable 'outlook'.  

The stock ended 0.90% higher at Rs 64 on Friday against the previous close of Rs  63.43 on BSE. Market cap of the firm rose to Rs 25,150 crore. A total of 5.65 lakh shares changed hands amounting to a turnover of Rs 3.60 crore on BSE.       

The stock hit a 52 week low of Rs 29.90 on September 30, 2022  and a 52 week high of Rs 67.29 on September 4, 2023.   

In terms of technicals, the relative strength index (RSI) of the stock stands at 65.3, signaling it's trading neither in the overbought nor in the oversold zone. SJVN shares have a beta of 1, indicating average volatility in a year. SJVN shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.       

SGEL will develop 18 MW Solar Power for BBMB. The project is scheduled to be commissioned by August 2024. 

It will generate 39.42 million units (MU) of energy in its first year of operation, with a cumulative energy generation of around 917 MU over a period of 25 years. This project will be developed on the land parcels of BBMB in Himachal Pradesh and Punjab. 

SJVN Green Energy has secured the project through open competitive bidding at a tariff of Rs 2.63 in the e-reverse auction organised by Punjab Energy Development Agency. Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. Commissioning of this project is expected to reduce 44,923 tonnes of carbon emission. 

SJVN plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25,000 MW by 2030 and 50000 MW by 2040. 

SJVN Limited is engaged in the business of generation of electricity and the tariff for power generation. The company manufactures and provides three key products and services: generation of electricity (hydro, wind and solar), consultancy and transmission. Its businesses include thermal power, hydro power, wind power, solar power, power transmission, consultancy and power trading.  

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