The agreement has been signed for supply of 200 megawatt (MW) from the under construction 1,000 megawatt (MW) Bikaner Solar Power Project (BSPP). The project is being developed SGEL in Rajasthan under CPSU Scheme of IREDA with the development cost of Rs 5,491 crore.

The project is being developed under the Domestic Content Requirement mode and is scheduled to be commissioned by April 2024.

The power generated from the project will be used by government entities, either directly or through DISCOMS. This development will contribute towards meeting solar RPO targets and addressing the power deficit.

The project portfolio of the company is more than 56 GW and the solar & wind portfolio stood at 5,090.5 MW. The company stated that it is marching forward tirelessly to achieve its shared vision of 25,000 megawatt (MW) by 2030 & 50,000 megawatt (MW) installed capacity by 2040.

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.

The scrip ended higher 0.85% at Rs 94.87 on Friday, 5 January 2024.