New Delhi: SJVN Limited on Wednesday said it has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW solar power project in GUVNL Phase XXII.
SJVN Green Energy Limited, a wholly owned subsidiary of SJVN has earlier bagged the initial 100 MW Solar project through bidding and further 100 MW under the Greenshoe option at a tariff of Rs 2.63 per unit on build own and operate basis in e-RA conducted by GUVNL in December 2023. 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 tentative cost of construction and development of this project is Rs 1100 crores. The ground mounted solar project shall be developed by SGEL anywhere in India through EPC contract. The power purchase agreement (PPA) 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. This PPA shall be signed between GUVNL and SGEL for 25 years.
The project is expected to generate 508.4 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 11,836.28 million units. The commissioning of this project is expected to reduce 5,79,976 tonnes of carbon emission and would contribute in Govt's mission of reduction in carbon emission.