New Delhi: State-owned SJVN Limited said in a regulatory filing on Monday that SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN Limited has been awarded the full quoted capacity of 200 MW in the Phase-XIV of the bidding process conducted by the Solar Energy Corporation of India (SECI). The project will be developed on a Build Own and Operate (BOO) basis through an e-Reverse Auction conducted on June 12, Monday.
The agreed tariff for the project is Rs 3.24 per unit, and the Power Sale Agreement (PSA) will be executed after the issuance of the Letter of Intent (LOI) from SECI. SJVN Green Energy Limited will develop the wind power project anywhere in India through an Engineering, Procurement, and Construction (EPC) contract. The estimated construction and development cost for this project is Rs 1,400 crore.
Once commissioned, the 200 MW wind power project is expected to generate approximately 578.16 million units (MUs) of electricity annually. Over a span of 25 years, the cumulative energy generation is projected to reach around 14,454 MUs. This initiative aligns with the government's mission to reduce carbon emissions, as the project is expected to offset approximately 708,246 tonnes of carbon emissions during its operational lifetime.
The project's commissioning is scheduled to be completed within 24 months from the signing of the Power Sale Agreement, as outlined in the Request for Selection (RfS) guidelines. The selection of SJVN Green Energy Limited for this project was carried out through a competitive bidding process adhering to the norms established by the centre.
Notably, both SJVN Limited and SJVN Green Energy Limited are entities under the common promoter group, i.e., the central government. However, it is essential to highlight that the project was awarded through a competitive bidding process, ensuring a fair and transparent selection procedure. The transaction between SJVN Green Energy Limited and SECI was conducted on an arms-length basis, ensuring impartiality and adherence to regulatory standards.
The successful acquisition of this 200 MW wind power project highlights SJVN Green Energy Limited's commitment to renewable energy development and contributes to India's renewable energy targets. The project will bolster the country's clean energy capacity, drive sustainable growth, and support the government's initiatives to combat climate change.