SJVN Ltd inks MOU for Power Trading with Sikkim Urja Limited

SJVN Ltd has inked a Memorandum of Understanding (MOU) with Sikkim Urja Limited (SUL) to trade 180 MW hydro power from SUL's 1200 MW Teesta-III hydro electric project in Sikkim to distribution licensees and open access consumers. This will be Company's first venture in the state of Sikkim.

Central Electricity Regulatory Commission has granted Category-I power trading license for interstate trading of electricity to the Company and would also aid the company in focusing on addressing seasonal and regional variance of demand & supply and fulfilling the power supply demand.

At present, the project portfolio of the Company is 55,814 MW. Company is on rapid progression to achieve its Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 and 50,000 MW installed capacity by 2040. SJVN is also playing pivotal role in achieving the target of 50% energy from non-fossil fuel-based energy resources by 2030.

Shares of SJVN Limited was last trading in BSE at Rs. 57.38 as compared to the previous close of Rs. 55.07. The total number of shares traded during the day was 2303439 in over 8029 trades.

The stock hit an intraday high of Rs. 58.00 and intraday low of 54.08. The net turnover during the day was Rs. 128325849.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 MOU SikkimUrja 180MW HydroPower