SJVN stock news: SJVN share price jumped nearly 15% to touch a 52-week high on Monday’s trading session after the company won a 100 MW solar project in an e-reverse auction run by Gujarat Urja Vikas Nigam Ltd (GUVNL). SJVN share price today opened at ₹120.96 apiece on BSE. The SJVN stock price hit an intraday high of ₹134 and an intraday low of ₹119.46.
According to Rajesh Bhosale, – Equity Technical and Derivative Analyst, Angel One, the SJVN stock price is in a strong uptrend.
“We are seeing further positive traction in today’s session. The SJVN share price today is up more than 12%, backed by volumes, and we expect this upmove to continue in the near term. 125 is support, whereas 148 is resistance,” added Bhosale.
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Through a tariff-based competitive bidding procedure of GUVNL Phase XXI, SJVN was awarded the 100 MW solar project at a rate of ₹2.54/unit on a build-own and operate basis, the comapany said in an exchange filing.
Through GUVNL’s e-Reverse Auction, SJVN reportedly acquired the whole stated capacity of a 100 MW solar power plant.
At a projected cost of ₹550 crore, SJVN will create this ground-mounted solar project through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL).
SGEL will carry out the project under an EPC contract in the Solar Park that Gujarat Industrial Power Corporation Limited is developing in Khavda, Gujarat. Following the receipt of GUVNL’s Letter of Award, the Power Purchase Agreement will be signed.
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“With this addition, the Company’s project portfolio stands at 59,872 MW. The Company is marching forward tirelessly to achieve its New Mission of 12,000 MW by 2026 and Shared Vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040,” the company said in an exchange filing.
Approximately 252 million units will be produced by the project in its first year of operation, and 5,866 million units will be produced cumulatively throughout a 25-year span of energy generation.
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Published: 29 Jan 2024, 11:50 AM IST
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