SJVN Awarded LoI for 125MW Solar Projects in Uttar Pradesh

• The company has actually been issued a Letter of Intent (LoI) by the Uttar Pradesh New as well as Renewable Energy Development Agency (UPNEDA).
• SJVN will certainly construct 75 MW grid attached solar energy project at Gurhah, in Jalaun District, as well as 50 MW grid-connected solar power project at Gujrai, in Kanpur Dehat District, in UP.

SJVN Ltd advanced 2.81% to Rs 31.05 after the company got 125 MW grid connected solar energy project in UP Solar Park in Uttar Pradesh, according to current media reports.

The company has been issued Letter of Intent (LoI) by the Uttar Pradesh New and also Renewable Energy Development Agency (UPNEDA) for constructing 75 MW grid linked solar energy project at Gurhah, in Jalaun District, as well as 50 MW grid-connected solar power project at Gujrai, in Kanpur Dehat District in the state of Uttar Pradesh with tariff-based affordable bidding.

SJVN has quoted tariff of Rs 2.98 per KWh for both these solar projects and power produced from these projects will certainly be procured by UPNEDA for 25 years.

These projects will certainly aid SJVN in accomplishing its enthusiastic shared vision of 5000 MW by 2023, 12,000 MW by 2030 as well as 25,000 MW by 2040 as well as all at once add towards RE capacity enhancement target of 175 GW by 2022 established by Government of India.

SJVN is a Mini Ratna, Category-I and also Set up 'A' CPSE under administrative control of Ministry of Power, Government of India. The firm has a portfolio of more than 16,000 MW, out of which 2016.5 MW is under operation et cetera is under numerous stages of development.

The Government of India held 59.92% stake in the company while the Government of Himachal Pradesh held 26.85% stake as on 30 September 2021.

The company's combined net profit decreased 22.80% to Rs 404.72 crore on a 3.31% rise in sales to Rs 882.32 crore in Q2 FY22 over Q2 FY21.

State-owned SJVN announced on Monday that it has been offered group 'I' licence for the inter-state trading of power in the entire nation by the Central Electricity Regulatory Commission.

" The firm has actually been provided a category 'I' licence for inter-state trading in electricity in the entire of India by the Central Electricity Regulatory Commission (CERC) vide its order dated January 10, 2022," according to a BSE filing.

In its order concern on January 10, 2022, the CERC mentioned that "we guide that SJVNL be issued a category 'I' licence for inter-state trading in electricity in whole of India."