SJVN shares were trading 3% above on 13 October after the company’s subsidiary secured a renewable power project worth Rs 600 crore in Rajasthan.

The company’s subsidiary, SJVN Green Energy, has received a LoA (Letter of Award) from Rajasthan Urja Vikas Nigam in Rajasthan for the development of a 100 megawatt (MW) solar power project at a tariff of rs 2.62 per unit.

The solar project will be built on BOO (build, own, and operate) basis.

In its regulatory filing on 12 October, the company said that the tentative cost of development of this project is around Rs 600 crore and upon completion, the project is said to generate 252 million units in its first year of operation and is said to generate 5,866 million units of energy over a period of 25 years.

The company said, “This achievement reaffirms the commitment of the company to harness the energy from non-fossil fuel sources. Marching towards a sustainable future, the company has aimed to be a 50,000 MW company by 2040.”

The shares of JSVN have gained more than 113.56% over the last 6 months and have given a tenfold return against the Nifty 50 index, which has given a return of 11.33% over the same duration.

At 12:15 pm, the shares of SJVN were trading at Rs 72.60 or 2.54% above its previous close on NSE.