New Delhi: State-owned SJVN on Friday said that it will set up a 100 MW wind power project at an estimated cost of Rs 700 crore. In a statement, SJVN said that it has won the project from Solar Energy Corporation of India (SECI) through an e-reverse auction process. "SJVN has won the full quoted capacity of 100 MW Wind Power Project at Rs 2.90 per unit on Build Own and Operate basis through e- Reverse Auction," said Nand Lal Sharma, CMD, SJVN.
Sharma stated that SJVN participated in the tariff based competitive bidding for setting up 1200 MW Inter State Transmission System connected Wind Projects in India (Phase -XIII) conducted by Solar Energy Corporation of India Limited. The project will be developed anywhere in India through SJVN's wholly owned subsidiary SGEL. The tentative cost of the development of this project is Rs. 700 crores. The project is expected to generate 262 MU in the first year of commissioning and cumulative energy generation over a period of 25 years will be about 6574 MU.
Sharma further told that the project will be commissioned in a period of 24 months from the date of signing of Power Sale Agreement (PSA). The PSA shall be executed after issuance of Letter of Intent by SECI. "SJVN has already commissioned Sadla & Khirvire Wind Power Stations with cumulative capacity of 97.6 MW in the states of Gujarat and Maharashtra. The commissioning of this Project is expected to reduce 3,22,150 Tonnes of carbon emission and would contribute to Government of India's mission to make our nation carbon neutral by 2070," said Sharma.
The present total portfolio of SJVN is around 45,000 MW and out of this around 97 percent is based on non-fossil fuel sources. The company has achieved exponential growth in recent years and now has 73 Projects under various stages of development with presence in pan India and abroad. SJVN has aligned its Shared Vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW capacity by 2040 with that of Government of India's target of achieving 50 percent energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in clean energy transition of the nation.
Disclaimer: This story is a press release and is being published without any editing by the PSU Watch desk.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)