Business : This part of electricity reached Rs 142
Business Business: Shares of SJVN Limited have been in the headlines in recent sessions. On Friday, the company’s shares rose 2 per cent to an intraday high of Rs 142.80. There is a good news behind this rise in share prices. Actually, SJVN Limited has successfully commissioned a 90 MW floating solar power project at Omkareshwar Floating Solar Park in Khandwa district of Madhya Pradesh. This achievement was achieved through the company’s wholly-owned subsidiary SJVN Green Energy Limited. This increase increased the total installed capacity of the company to 2466.50 MW. We would like to inform you that this project marks SJVN’s entry into the floating solar power sector and will be one of the largest projects in Central and North India. The 90 MW floating solar power project at Omkareshwar represents a significant investment of Rs 646.2 million. It is expected to generate 196.5 million units of electricity in the first year of its operation and a total of 4629.3 million units of electricity over 25 years. The project is expected to contribute another Rs 6,400 crore to the company’s bottom line. SJVN currently has a portfolio of large projects with a capacity of 56,802.40 MW, focusing on hydropower, pumped storage, thermal and renewable energy projects.
You are notified that our Board of Directors will meet on Tuesday, August 13, 2024 to discuss a proposal to raise capital through sale of shares in our wholly-owned subsidiary, SJVN Green Energy Limited. The Company is rapidly progressing towards achieving the shared vision of 25,000 MW by 2030 and 50,000 MW by 2040. As of June 2024, Life Insurance Corporation of India (LIC) held 2.26% stake or 889994881 shares, while FIIs and DIIs held 2.26% stake or 889994881 shares, as of June 2024. We increased our investment in March. SJVN (formerly known as Satluj Jal Vidyut Nigam Limited) is a public sector undertaking engaged in hydroelectric power generation and transmission. The company has a market capitalization of over Rs 60,000 crore.
