Geeta Kapur, chairman & managing director of SJVN said, “SJVN Green Energy has earlier bagged the 200 MW solar project through tariff based competitive bidding at a tariff of Rs 2.66 per unit on build own and operate (BOO) basis for which e-RA was conducted on 2 March 2024 by GUVNL.”

Kapur further stated that the tentative cost of construction and development of this project is Rs 1,100 crore. The project is to be developed at Gujarat State Electricity Corporation (GSECL) solar park at Khavda. The power purchase agreement shall be executed with GUVNL after adoption of tariff by Gujarat electricity regulatory commission (GERC). The project shall be commissioned in a period of 18 months from the date of signing of power purchase agreement (PPA), she added.

The project is expected to generate 508.40 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 11,698.16 million units, said the company.

Commissioning of this project is expected to reduce 5,73,210 tonnes of carbon emission and would contribute in Government of India (GoI) mission of reduction in carbon emission, it added.

SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.

The company’s consolidated net profit dropped 51.65% to Rs 138.97 crore on 1.57% decline in revenue from operations to Rs 543.31 crore in Q3 FY24 over Q3 FY23.

Shares of SJVN surged 5.27% to end at Rs 124.80 on Friday, 15 March 2024.