SJVN’s Stock Surges as Company Wins 100 MW Solar Project, Touches 52-Week High

SJVN Soars on Securing 100 MW Solar Project, Hits 52-Week High

SJVN shares reached a 52-week high of Rs 124.40 on January 29th, 2024, following the announcement of securing a 100 MW solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL).The project win led to a 6.64% increase in the stock price, reflecting investor confidence in SJVN’s renewable energy initiatives.SJVN will develop the ground-mounted solar project through its subsidiary SJVN Green Energy Limited (SGEL) at an estimated cost of Rs 550 crore.

The project is expected to generate 252 million units of electricity in its first year and 5,866 million units over its 25-year lifespan.

Reasons for the Surge:

* The 100 MW project win signifies SJVN’s commitment to expanding its renewable energy portfolio, aligning with India’s growing focus on clean energy.

* Securing the project at a competitive tariff of Rs 2.54 per unit demonstrates SJVN’s operational efficiency and cost-effectiveness.

* The project’s expected energy generation further adds to SJVN’s long-term growth prospects and potential profitability.

Outlook

SJVN’s recent success in securing the 100 MW solar project positions the company for continued growth in the renewable energy sector. With India’s ambitious renewable energy targets, SJVN is well-poised to benefit from the increasing demand for clean energy solutions. Additionally, the company’s focus on cost-optimization and project efficiency is likely to attract further investor interest, potentially leading to sustained stock price appreciation.

**Disclaimer:** This information is for general informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.

Keywords:** SJVN, solar power, GUVNL, renewable energy, stock market, investment, India