SJVN Green Energy (SGEL), a wholly owned subsidiary of the company, had participated in the tariff based competitive bidding process conducted by SECI for selection of wind power developers for setting up 1,200 MW grid connected wind power projects anywhere in India.

SGEL bagged 200 MW at a tariff of Rs 3.24 per unit on build own and operate (BOO) basis in open competitive tariff bidding process, SJVN stated in the press release.

The 200 MW wind project will be developed by SGEL anywhere in India through EPC contract. With the allotment of this project, the wind portfolio of the company stood at 497.6 MW.

The tentative cost for development of this project is Rs 1,400 crore. The project is expected to generate 482 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 12,050 million units. The project will be commissioned by November 2025 i.e., within 24 months from effective date of PPA signing.

The power generation company said that this capacity addition will strengthen the footprints of the company in the renewable energy sector and will help in achieving the Government of India’s target of 50% installed capacity from non-fossil fuel sources by 2030.

This will also help in achieving the company’s new mission of 12,000 MW by 2026 and the ambitious shared vision of 50,000 MW installed capacity by 2040, it added.

SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission & power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.

The company's consolidated net profit declined 1.3% to Rs 439.64 crore in Q2 FY24 as against Rs 445.44 crore in Q2 FY23. Net sales fell marginally to Rs 878.36 crore in Q2 FY24 from Rs 878.48 crore reported in the same period a year ago.