SJVN Gets Letter Of Intent For Purchase Of Solar Energy From Uttarakhand Power

SJVN Ltd. has received a letter of intent for the purchase of 200 megawatts of solar power from Uttarakhand Power Corp.

Uttarakhand Power intends to purchase it at a tariff of Rs 2.57 per unit from the company's solar project in Rajasthan's Bikaner, according to an exchange filing on Tuesday.

The project is developed through SJVN Green Energy Ltd., with a viability gap funding support from the Union government. The power created from this project will be used by government entities or through distribution companies mentioned in the filings.

This project will be as per the power purchase agreement signed between SJVN Green Energy and Uttarakhand Power in the near future. This will also help in solving the renewable purchase obligation targets and power deficit, it said.

SJVN Green Energy Ltd. a wholly owned subsidiary of SJVN Ltd. signed the MoU with Ocean Sun, Norway, last month for collaboration in the field of new technologies in green and clean energy sector, a BSE filing said.

This MoU will help in technology transfer and co-operation among the two countries.

Shares of SJVN closed 4.15% higher at Rs 76.50 apiece, as compared with a 0.03% fall in the benchmark BSE Sensex.