State-owned SJVN to develop 100 MW solar project worth Rs 550 crore

State-owned SJVN has bagged a 100 MW solar project worth Rs 550 crore under e-Reverse auction conducted by Gujarat Urja Vikas Nigam.

This ground mounted solar project shall be developed by the SJVN through its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), at a tentative cost of Rs 550 crore, a company statement said.

According to the statement, SJVN successfully bagged the quoted capacity of 100 MW Solar Project at the rate of Rs 2.63/Unit on Build Own and Operate basis through a tariff-based competitive bidding process of GUVNL.

The project 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.

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 5,866 million units, it stated.

Further, the commissioning of this solar project is anticipated to reduce 2,87,434 tonnes of carbon emissions, it stated.

With the addition of this project, SJVN's solar & wind portfolio stands at 5,090.5 MW out of which 179.5 MW is under operation, 1,860 MW is under construction and 3,051 MW is under various stages of implementation.

The company aims to achieve its mission of 12,000 MW by 2026 and shared vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.