SJVN Limited (SJVN Limited) said in an exchange filing that the company’s wholly owned subsidiary (SJVN Green Energy Limited – SGEL) has received Punjab State Power Corporation Limited (PSPCL) order for procurement of 1200 MW of solar energy. SGEL will develop 1000 MW projects anywhere in the country and 200 MW projects in the state of Punjab as per RFS provisions. The solar projects will be developed on Build, Own and Operate (BOO) basis. The estimated cost of construction and development of the 1200 MW project is around Rs 7,000 crore. The company’s shares are priced at Rs 50.20 on the NSE.

Earlier, on July 21, 2023, the company informed that it has signed an MoU with REC Limited to the extent of Rs 50,000 crore to finance projects of the company and its subsidiaries and joint ventures. In addition, the company has also signed power purchase agreements (PPAs) for 300 MW of renewable energy projects.

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PPAs have been signed with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 200 MW of solar power project capacity in Mumbai and with Solar Energy Corporation of India Limited (SECI) for 100 MW of wind power capacity in Delhi. The development cost of the 200 MW ground mounted solar project in Maharashtra is approximately Rs 1,200 crore. SGEL has bagged the project at a tariff of Rs 2.90 per unit through a competitive bidding process in the e-reverse auction conducted by MSEDCL.

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SJVN is engaged in the business of power generation. The company is also engaged in the business of providing consultancy for hydroelectric projects. The company’s shares have gained more than 100 per cent in three years.