50,000-MW capacity aim by 2040: This multibagger power generation company commissions both the units of 60-MW NMHPS in Uttarakhand!
The stock gave multibagger returns of over 140 per cent in 6 months while the BSE Sensex Index is 10.4 per cent.
Satluj Jal Vidyut Nigam Limited (SJVN) informed that the company has commissioned both the units of 60 MW Naitwar Mori Hydro Power Station (NMHPS) on River Tons, a major tributary of River Yamuna in Uttarkashi district of Uttarakhand. Both the units are now generating commercially after going through rigorous testing and successful synchronization with the national grid. With this achievement, the installed generation capacity of the company now stands at 2152 MW.
Earlier, the company received a Letter of Award (LOA) for developing a 200-MW Firm and Dispatchable Renewable Energy (FDRE) project with Tata Power Company Ltd. SJVN is an Indian public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by MNRE for achieving the nation's target of achieving 500-GW by 2030.
Furthermore, the company signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Limited (SECI). The tentative cost for the development of this project is Rs 1,400 crore. The project is expected to generate 482 million units in the first year after commissioning and the projected cumulative energy generation for 25 years is 12,050 million units. The project will be commissioned by November 2025 i.e., within 24 Months from the effective date of PPA signing.
This is a significant development for SJVN Limited as it expands its presence in the renewable energy sector. The company is committed to developing clean and sustainable energy sources for the future.
SJVN, a leading CPSU under the Ministry of Power, plans to install over 10,000 MW of renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25,000 MW by 2030 and 50,000 MW by 2040. The Company has aligned its shared vision with that of the Government of India’s target of achieving 50 per cent energy from non-fossil fuel sources by 2030.
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. The company reported positive numbers in its Quarterly Results (Q2FY24) & and half-yearly results (H1FY24) for the year ended September 30, 2023.
On Tuesday, shares of SJVN Ltd plunged 1.28 per cent to Rs 85.63 per share from its previous closing of Rs 86.74 with an intraday high of Rs 87.4 and an intraday low of Rs 85.81. This company has a market cap of over Rs 33,000 crore with a 3-year CAGR of 50 per cent. The stock gave multibagger returns of over 140 per cent in 6 months while the BSE Sensex Index is 10.4 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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