SJVN Ltd shares are in spotlight today as the business signed a power purchase agreement (PPA) with Bhakra Beas Management Board (BBMB) through its wholly owned subsidiary SJVN Green Energy Limited (SGEL). Furthermore, India Ratings & Research has confirmed the company’s ratings on Unsecured, Rated, Listed, Redeemable Non-Convertible Debentures. The rating has been confirmed at AA plus, with a stable ‘outlook’.
On Friday, the stock closed 0.90% higher at Rs 64, compared to the previous finish of Rs 63.43 on the BSE. The company’s market capitalization increased to Rs 25,150 crore. On the BSE, 5.65 lakh shares were traded, resulting in a transaction of Rs 3.60 crore. On September 30, 2022, the stock reached a 52-week low of Rs 29.90 and a 52-week high of Rs 67.29 on September 4, 2023.
In terms of technicals, the stock’s relative strength index (RSI) is 65.3, indicating that it is neither overbought nor oversold. SJVN shares have a beta of one, indicating a year of ordinary volatility. SJVN is trading above the 5 day, 20 day, 50 day, 100 day, and 200 day moving averages.
SGEL will build an 18-megawatt solar power plant for BBMB. The project is expected to be completed in August 2024. It will create 39.42 million units (MU) of energy in its first year of operation, with a total energy output of around 917 MU during a 25-year period. This project will be built on BBMB land parcels in Himachal Pradesh and Punjab.
SJVN Green Energy won the project through open competitive bidding at a rate of Rs 2.63 in the Punjab Energy Development Agency’s e-reverse auction. For the power generated by the project, a 25-year power purchase agreement has been inked with BBMB. The completion of this project is estimated to save 44,923 tonnes of CO2.
SJVN intends to add over 10,000 MW of renewable energy capacity over the next three years, as part of its shared aim of becoming a firm with 25,000 MW by 2030 and 50,000 MW by 2040.
SJVN Limited is in the business of generating energy and setting power generation tariffs. The firm manufactures and offers three main goods and services: power generating (hydro, wind and solar), consulting, and transmission. Thermal power, hydro power, wind power, solar power, power transmission, consultation, and power trading are among its industries.
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