SJVN bags another 100 MW solar project worth Rs 550 crore

New Delhi: Clean energy PSU, SJVN Limited on Thuesday said that it has secured 100 MW solar power project through e-reverse auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL).

"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.

Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join

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.

Apprising about the project, SJVN CMD NL 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, 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 2,87,434 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.

(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.)