Shares of SJVN witnessed a nearly 1% surge as the company, through its subsidiary SJVN Green Energy Ltd, finalized a power usage agreement (PUA) with Uttarakhand Power Corporation Ltd (UPCL) for the supply of 200 MW solar power. The solar energy will be derived from SJVN’s 1,000 MW Bikaner project in Rajasthan, currently under construction.
Executing this solar power initiative under the IREDA Central Public Sector Undertaking scheme, the project, with a development cost of Rs 5,491 crore, is on track to meet the domestic content requirement. Anticipated to commence operations by April 2024, the solar venture aligns with the government’s objective of utilizing generated power for public entities, either directly or through distribution companies. The foundation stone for the project was laid by President Droupadi Murmu in January 2023. Over 25 years, the initiative is expected to yield approximately 56,838 million units, contributing significantly to a reduction of 27,85,077 tonnes in carbon emissions.
