SJVN’s share price moved to Rs 60.75, gaining 10% at 9:20 am after it received five projects of 5097 MW from the Arunachal Pradesh government. At 12:11 pm, SJVN was trading at Rs 60, up Rs 2.90, or 6.79% on the BSE.

The projects allocated are 3,097 MW Etalin, 500 MW Emini, 680 MW Attunli, 420 MW Amulin, and 400 MW Mihumdon. All 5 projects are located in Dibang Basin in optimal resource utilisation and timely completion.

The development will involve an investment of Rs 50,000 crore, while construction projects will decrease carbon emissions to around 1.1 million tonnes per year.

The company, through its wholly-owned subsidiary, i.e., SJVN Green Energy (SGEL), received the letter of Intent (LOI) from Punjab State Power Corporation (PSPCL) for gaining 1200 MW Solar Power, the company said. SGEL will develop a 1,000 MW project in the country and balance 200 MW in Punjab.

The solar projects will develop on a build-own-and-operate basis, and the tentative cost of construction and development of the 1,200 MW project is Rs 7,000 crore.

On July 21, the company contracted an MoU with REC for financing projects and its subsidiaries and joint ventures to Rs 50,000 crore. REC will deliver financial aid to set up new power-generating stations based on conventional and renewable energy. REC will assist financially in new tech projects like battery storage, e-vehicles, hydrogen cell storage, green hydrogen/ammonia, and manufacturing units for green projects.

On June 20, subsidiary SGEL signed power purchase agreements (PPA) for a 200 MW solar power project with Maharashtra State Electricity Distribution Company (MSEDCL) in Mumbai and with Solar Energy Corporation of India (SECI) for 100 MW wind power in Delhi.