SJVN ties up with NDMC to procure 150 MW solar power; stock ends higher

SJVN said in the regulatory filing that NDMC (New Delhi Municipal Corporation) has conveyed its in-principle approval to SJVN to procure 150 MW of Solar Power from SJVN at Rs2.44/kWh for 25 years under the CPSU scheme.

The Indian Renewable Energy Development Agency (IREDA) has floated a tender for the setting up of 5000 MW of grid-connected solar power projects in India (Tranche III) under the Central Public Sector Undertaking (CPSU) program (Phase II) of grid-connected projects for self-use or use by government entities. It has a maximum permissible limit for the viability gap funding (VGF) at 55 lakh/MW for the projects, SJNV said in the filing.

SJVN plans to participate in this upcoming bidding opportunity for 1000 MW and has tied up with NDMC for procurement for power from its Solar Projects, it added.

The stock ended at Rs29.60 up by Rs0.3 or 1.02% from its previous closing of Rs29.30 on the BSE. The scrip opened at Rs29.50 and touched a high and low of Rs29.80 and Rs29.10 respectively.

Further, the company said the Board of Directors is scheduled to be held on Saturday, June 26, 2021 inter-alia, to consider and approve the Audited Financial Results of the Company for the Fourth Quarter and Year ended 31st March, 2021 and to consider and recommend the final dividend, if any for the Financial Year 2020-21.

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( With inputs from indiainfoline)