Multibagger penny stock under Rs 75: This power generation company bags new order for 100-Megawatt solar power project worth Rs 600 crore!

Shares of the company grew by more than 100 per cent in the last six months.

On October 12, 2023, SJVN Limited informed in the exchange filing that SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Limited, has won a 100 MW solar power project at a tariff of Rs 2.62 per unit in Rajasthan through tariff-based competitive bidding. The project will be developed on a Build Own and Operate (BOO) basis and is expected to cost Rs 600 crore.

The project is expected to generate about 252 MU in the first year and 5866 MU over a period of 25 years. It will also reduce carbon emissions by 287434 tonnes, contributing to the Government of India's mission of reducing carbon emissions.

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The project is expected to be commissioned within 18 months from the date of signing the Power Purchase Agreement (PPA) with Rajasthan Urja Vikas Nigam Limited (RUVNL).

The company recently signed a Memorandum of Agreement (MoA) was signed between the company and the Government of Arunachal Pradesh for executing five hydropower projects of 5097 MW.  These five projects are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin, and 400 MW Mihumdon. Further, 3097 MW Etalin HEP is the largest hydro project under development in India. The construction of these projects shall involve a total investment of around Rs 50,000 crores.

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SJVN is engaged in the business of electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects. The shares of the company have gained about 240 per cent in the last three years and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.