SJVN rose 2.33% to Rs 30.80 after the company said that it has emerged as the lowest bidder for 200 megawatt (MW) grid-connected solar project in the state of Bihar.
Bihar Renewable Energy Development Agency (BREDA) has accepted the bid submitted by the company and issued a letter of intent (LoI) for supply of 200 MW power at the fixed quoted tariff of Rs 3.11 per Kilowatt-hour (kWh) for sale of solar power.
These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.
SJVN, a Mini Ratna, Category-I and Schedule ‘A’ CPSE under administrative control of Ministry of Power, Government of India. The company has a portfolio of more than 16,000 MW, out of which 2016.5 MW is under operation and the rest is under various stages of development.
The Government of India held 59.92% stake in the company while the Government of Himachal Pradesh held 26.85% stake as on 31 December 2021.
The company’s consolidated net profit declined 22.80% to Rs 404.72 crore on a 3.31% rise in sales to Rs 882.32 crore in Q2 FY22 over Q2 FY21.