Saturday, May 14, 2022

SJVN bags 100 MW grid-connected solar power project in Gujarat

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New Delhi: Green energy PSU, SJVN Limited has secured 100 MW grid-connected solar power project in Gujarat through tariff-based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). This information was given by SJVN Limited’s Chairman & Managing Director (CMD) Nand Lal Sharma on Thursday.

Sharma further apprised that the project will generate 245.28 million units of energy annually and the cumulative energy generation over a period of 25 years will be approximately 6,132 million units. The energy generated from this project will be procured by GUVNL for 25 years and the Power Purchase Agreement (PPA) between SJVN and GUVNL will be signed shortly. The tentative cost of project development shall be approximately Rs 500 crores.

“The addition of this solar project along with multiple projects obtained by the company recently will contribute to India's goal to build the green energy economy and boost the nation’s renewable energy potential,” said Sharma.

In the backdrop of Prime Minister Narendra Modi’s commitment to generate 500 GW of energy by 2030 from non-fossil sources, the Government is focusing on the development of renewable sources. SJVN is adding significant capacities in its portfolio to pursue this vision. At present, the company has 12 solar power projects of 3,065 MW capacity under various stages of development with a total portfolio of more than 16,900 MW.

This gigantic portfolio expansion has led to SJVN’s new shared vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW installed capacity by 2040. SJVN is striding ahead to achieve its shared vision and to be a partner in the sustainable development of the nation.

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