SJVN Green Energy achieves financial closure of its 1000 MW solar power project – EQ Mag
SJVN Green Energy, a wholly owned subsidiary of the Company today accomplished a major millstone of financial closure of its 1,000 MW solar power project under execution at Bikaner, Rajasthan.
The EPC contract of this project has been awarded to Tata Power Solar Systems. Total cost of the project is Rs 5,723.59 crore. The project is being financed at a debt equity ratio of 80:20.
Government of India will be funding the viability gap of Rs 447.20 crore. The entire debt of Rs 4,444.71 crore has been tied up with IREDA including bridge loan of Rs 223.60 crore against the viability gap funding.
The project is scheduled to be commissioned on 03 January 2024. Once commissioned, it will generate 2,455 million units in its 1st year of operation and 56,838 million units during entire life of the project. The company has secured this 1,000 MW largest solar power project through competitive bidding from IREDA under the CPSU Scheme having tariff of Rs 2.57 per unit.
Source: PTI
