SJVN, through its wholly owned subsidiary SJVN Green Energy (SGEL), had participated in the request for selection (RfS) floated by Gujarat Urja Vikas Nigam (GUVNL) for setting up of 500 MW STU/CTU connected wind power plant anywhere in India.

Accordingly, the company has bagged 100 MW at Rs 3.17 per unit on build, own and operate (BOO) basis under open competitive tariff bidding process followed by e-reverse auction held on 05 May 2023 by GUVNL.

The wind power project shall be developed by SJVN/SGEL anywhere in India through EPC contract. With the allotment of this capacity, SJVN's Renewable portfolio now stands at 3,283 MW and are at different stages of implementation.

The cost of construction / development of this project shall be approximately Rs 800 crore. The project is expected to generate 281 MU in the first year and the project cumulative energy generation over a period of 25 years would be about 7,025 MU.

"The commissioning of this project is expected to reduce 3,44,255 tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission,” SJVN said in a statement.

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 power generation company's consolidated net profit rose 22.1% to Rs 287.42 crore in Q3 FY23 from Rs 235.46 crore recorded in Q3 FY22. Revenue from operations rose marginally to Rs 551.99 crore in the quarter ended 31 December 2022 as against Rs 549.14 crore reported in Q3 FY22.

The scrip rose 0.48% to end at Rs 37.59 on the BSE on Friday.