SJVN bags 100 MW solar project worth Rs 550 cr – EQ

In Short : SJVN, a public sector undertaking, secures a 100-megawatt solar project valued at Rs 550 crore. This accomplishment underscores the company’s commitment to expanding its renewable energy portfolio and contributing to India’s solar energy capacity.

In Detail : Nand Lal Sharma, Chairman & Managing Director, SJVN on Tuesday announced that SJVN has secured 100 MW Solar Power Project through e-Reverse Auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL).

Nand Lal Sharma stated that SJVN successfully bagged the quoted capacity of 100 MW Solar Project @ Rs 2.63/Unit on Build Own and Operate basis through a tariff based competitive bidding process of GUVNL. This Ground Mounted Solar Project shall be developed by SJVN through its wholly owned subsidiary, SJVN Green Energy Limited (SGEL) at a tentative cost of Rs 550 crore. Further apprising about the project, Sharma said that the project shall be developed anywhere in India and is expected to be commissioned within 18 Months from the date of signing of the Power Purchase Agreement (PPA). The PPA shall be signed between SGEL & GUVNL for 25 years.

Highlighting the benefits, Nand Lal Sharma said that the project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5866 million units. Further, the commissioning of this solar project is anticipated to reduce 287434 tonnes of carbon emissions.

With the addition of this project, SJVN’s solar & wind portfolio stands at 5090.5 MW out of which 179.5 MW is under operation, 1860 MW is under construction and 3051 MW is under various stages of implementation. The company is marching forward with vigour to achieve its Mission of 12,000 MW by 2026 and Shared Vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.