SJVN gets Letter of Intent from GUVNL for 500 MW Solar Project – EQ

SJVN gets Letter of Intent from GUVNL for 500 MW Solar Project

Shimla : SJVN Green Energy Limited (SGEL) the renewable arm of SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW Solar Project in GUVNL Phase -XXI. Smt. Geeta Kapur apprised that SJVN Green Energy Limited, has earlier bagged the 500 MW (100 MW + 400 MW Green Shoe) Project through tariff based competitive bidding at a tariff of INR 2.54 /Unit on Build Own and Operate (BOO) basis for which e-RA, was conducted on 25.01.2024 by GUVNL.

Smt. Geeta Kapur further stated that the tentative cost of construction and development of this project is INR 2700 Cr. The Project is to be developed at GIPCL Solar Park at Khavda. The Greenshoe option is a method in which the implementing agencies offer additional capacity to the successful bidder at same terms and conditions under RfS. The power purchase agreement shall be executed with GUVNL after adoption of tariff by GERC. The Project shall be commissioned in a period of 18 Months from the date of signing of PPA i.e. by Nov 2025.

The project is expected to generate 1271.07 million units in the 1st year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 29245.40 million units. Commissioning of this Project is expected to reduce 1433025 Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission. Company is on rapid progression to achieve its Shared Vision of 25000 MW by 2030 & 50000 MW by 2040. This Shared Vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030.