en.Wedoany.com Reported - SJVN has signed a Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited to supply green electricity from multiple hydropower projects under construction in Himachal Pradesh. These projects include the 66 MW Dhaulasidh Hydropower Station, the 210 MW Luhri Stage-I Hydropower Station, and the 382 MW Sunni Dam Hydropower Station.
The agreement was signed in Baroda by Aman Katoch, General Manager (Commercial & Strategy) of SJVN, and Sanjay Mathur, General Manager (Commercial) of GUVNL, in the presence of several senior officials. SJVN stated that this move aims to ensure long-term sales of renewable hydropower and strengthen portfolio relationships with major utility companies.
Financial data shows that SJVN recorded revenue of INR 14,965 million in the fourth quarter, a significant increase from INR 5,044 million in the same period last year; net loss stood at INR 1,178 million, compared to a net loss of INR 1,277 million in the same period last year. Revenue growth was primarily driven by the commissioning of new projects, including the Buxar thermal power project and additional solar capacity. The company has filed tariff applications with the Central Electricity Regulatory Commission, but interim or final tariff orders have not yet been determined. During the quarter, the company recognized provisional sales revenue of INR 3,960.3 million and INR 5,207.8 million, respectively, based on tariff regulations and management estimates.
SJVN also commissioned the 1,000 MW Bikaner Solar Power Plant and the 70 MW Dubri Solar Power Plant in phases, recognizing operating revenues of INR 1,110 million and INR 2,543.2 million, respectively. EBITDA for the quarter reached INR 9,096 million, significantly higher than INR 2,308 million in the same period last year; the EBITDA margin expanded from 47.7% to 60.8%.
SJVN's shares closed at INR 71.90 on the Bombay Stock Exchange, down INR 0.20, or 0.28%. The company stated that the Power Purchase Agreement and recently commissioned plants will help expand its renewable energy output and ensure sustained, stable long-term cash flows.
