SJVN signs PPAs with Gujarat Urja Vikas Nigam for hydro power from Himachal Pradesh

State-owned power producer SJVN Ltd on Monday (June 29) said it has signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the supply of green power from upcoming hydroelectric projects in Himachal Pradesh.

The agreements cover power supply from three projects: 66 MW Dhaulasidh HEP, 210 MW Luhri Stage-I HEP, and 382 MW Sunni Dam HEP. The PPAs were signed at Vadodara, Gujarat, by Aman Katoch, General Manager (C&SO), SJVN, and Sanjay Mathur, General Manager (Commerce), GUVNL, in the presence of senior officials from both organisations.

"These agreements strengthen SJVN's portfolio of long-term power sale arrangements with leading power utilities across the country and reinforce its position as a key contributor to India's transition towards a cleaner, greener and more resilient energy future," it added.

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Fourth Quarter Results

The company reported a net loss of ₹117.8 crore, compared to a net loss of ₹127.7 crore during the same quarter last year. Revenue for the period nearly tripled from last year to ₹1,496.5 crore, compared to ₹504.4 crore in the year-ago period. The surge in revenue is largely attributed to the commissioning of new projects, specifically the Buxar Thermal Power Project and various solar projects.

In its notes to accounts, the company clarified that while the tariff petition has been filed with the CERC, pending the interim or final tariff order. Yet, an amount of ₹396.03 crore and ₹520.78 crore has been provisionally recognised as sales for the quarter, based on the CERC tariff regulations and management estimates.

The company also commissioned the 1,000 MW Bikaner Solar Power Plant and 70 MW Dhubri Solar Power Plant of SJVN Green Energy, in phases. As a result, they have recognised revenue from operations worth ₹111 crore and ₹254.32 crore respectively on account of energy generated from these projects.

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Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹909.6 crore, from ₹230.8 crore last year. EBITDA margin for the quarter stood at 60.8% from 47.7% last year.

Shares of SJVN Ltd ended at ₹71.90, down by ₹0.20, or 0.28%, on the BSE.