SJVN Limited, a public sector power generation company under the Ministry of Power, Government of India, has announced the successful commissioning of its 50 megawatt (MW) Gujrai solar power project in Kanpur, Uttar Pradesh. This project was executed by SJVN Green Energy, a wholly-owned subsidiary of SJVN Limited.
The project was secured by SJVN Green Energy through competitive tariff bidding conducted by the Uttar Pradesh New & Renewable Development Agency (UPNEDA), at a tariff rate of Rs 2.98 per unit. A power purchase agreement has been inked with the Uttar Pradesh Power Corporation (UPPCL) for a tenure of 25 years.
With a construction cost amounting to Rs 281 crore, the project is expected to generate 107 million units (MUs) of electricity in its inaugural year. Over 25 years, the cumulative energy generation is estimated to reach 2,477 MUs.
SJVN Limited is primarily focused on electricity generation and also provides consultancy services. In the third quarter of FY24, the company witnessed a 51.65% decline in consolidated net profit, amounting to Rs 138.97 crore, compared to Rs 287.42 crore in Q3 FY23. Additionally, revenue from operations experienced a 1.57% decrease to Rs 543.31 crore in Q3 FY24, down from Rs 551.99 crore in the corresponding quarter of the previous year.
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