54,065 MW project portfolio: This power generation company signs MoU with MAHAGENCO for 5,000 MW energy projects!

The stock has a PE of 11.08x whereas the sectoral PE is 35.40x.

SJVN Ltd informed that the company has signed a Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company (MAHAGENCO) for the development of 5,000 MW renewable energy projects in the state of Maharashtra.

The MoU has been signed to explore the feasibility of setting up various renewable projects in Maharashtra, which include hydro, pumped storage, wind, solar, hybrid and green hydrogen projects. further, the company & MAHAGENCO will jointly participate in tenders floated by the Government of Maharashtra for the renovation and modernization of small hydropower stations which are operated and maintained by MAHAGENCO.

With the signing of this MoU, the company now has a project portfolio of 54,065 MW, with 2,091.5 MW under operation, while the rest is in various stages of development and is marching ahead to achieve the Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW capacity by 2040.

SJVN is engaged in the business of electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects. The company has been maintaining a healthy dividend payout of 72 per cent with a dividend yield of Rs 4.38 per cent. This power company has a market cap of over 15,500 crore with a 1-year CAGR of 40 per cent.

Today, shares of SJVN Ltd climbed 5.75 per cent to an intraday high of Rs 40.64 per share from its previous closing of Rs 38.43. The stock has a PE of 11.08x whereas the sectoral PE is 35.40x.

The stock is up by 45 per cent in just 1 year and over 90 per cent in 3 years. Investors should keep an eye on Mid-Cap power company under their watchlist.