SJVN Green Energy has bagged 50 MW solar power project at a tariff of Rs 2.98 per unit through competitive tariff bidding conducted by Uttar Pradesh New & Renewable Development Agency (UPNEDA). The power purchase agreement for the same has been signed with Uttar Pradesh Power Corporation (UPPCL) for 25 years, said the firm.

The cost of construction of the project stood at Rs 281 crore. The project will generate 107 million units (MUs) in the first year and the estimated cumulative energy generation over a period of 25 years shall be 2,477 MUs.

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 in Q3 FY24 as compared with Rs 287.42 crore posted in Q3 FY23. Revenue from operations fell 1.57% to Rs 543.31 crore during the quarter as compared with Rs 551.99 crore posted in corresponding quarter last year.

The scrip shed 0.86% to Rs 120.50 on the BSE.