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SJVN shares increased by 1% to ₹123.70 in early trade on February 28th, following its affiliate's commissioning of a 100 MW solar power facility in Gujarat. The company's wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), has put the 100 MW Raghanesda Solar Power Project in the Gujarati district of Banaskantha into service.
Gujarat Urja Vikas Nigam Limited (GUVNL) held a competitive bidding process, and SGEL was awarded the project at a tariff of ₹2.64 per unit. According to the firm, a 25-year power purchase deal has been inked with GUVNL. The share touched a 52-week high of ₹170.45 on February 5, 2024, and a 52-week low of ₹30.39 on March 27, 2023. The stock is trading 27.43% below its 52-week high and 307.04% above its 52-week low.
On February 23, the subsidiary signed the power usage agreement (PUA) with Jammu & Kashmir Power Corporation Limited (JKPCL) at Jammu for 300 MW Solar Power Capacity.
SGEL has bagged this 50 MW Solar Power Project at a tariff of ₹2.98 per unit through competitive tariff bidding conducted by Uttar Pradesh New & Renewable Development Agency (UPNEDA).
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