Shares of SJVN Ltd were trading in the green and 3% higher on 1 January after the company launched the 75-megawatt Gurhah solar power project in Jalaun, Uttar Pradesh.

In its regulatory filing, the company said that SJVN Green Energy, a subsidiary of the company, has successfully launched the Gurhah solar power project in Jalaun, Uttar Pradesh, which generates 75 megawatts of renewable energy.

The company had secured the project at a rate of Rs 2.98 per unit, along with a power purchase agreement that spans 25 years with the Uttar Pradesh Power Corporation.

The collaboration with Uttar Pradesh Power Corporation will ensure a stable arrangement for supplying solar power energy to meet Uttar Pradesh’s energy needs for a significant period.

With the commissioning of this said project, the company’s total installed capacity has now reached 2,227 megawatts.

The project was constructed for a total consideration of Rs 408.42 crore.

The Gurhah project will generate 159.77 million units in the first year, and in a period of 25 years, it will generate a total of 3,716 million units.

At 3:30 pm, the shares of SJVN closed 1.92% higher at Rs 92.70 on NSE.