In a recent e-Reverse auction conducted by Gujarat Urja Vikas Nigam, state-owned SJVN has successfully won a 100 MW solar project valued at Rs 550 crore. The ground-mounted solar project will be developed by SJVN through its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), with a tentative cost of Rs 550 crore, as stated in a company press release.
The competitive bidding process conducted by Gujarat Urja Vikas Nigam saw SJVN securing the quoted capacity for the 100 MW solar project at a rate of Rs 2.63 per unit. The project will be executed on a Build Own and Operate basis and is expected to be commissioned within 18 months from the signing of the Power Purchase Agreement (PPA).
The PPA, set to span 25 years, will be signed between SGEL and GUVNL. The solar project is anticipated to generate approximately 252 million units in its inaugural year, with a cumulative energy generation of about 5,866 million units over the 25-year period.
Moreover, the commissioning of this solar project is projected to result in the reduction of 2,87,434 tonnes of carbon emissions. With the addition of this project, SJVN’s solar and wind portfolio now stands at 5,090.5 MW, with 179.5 MW currently operational, 1,860 MW under construction, and 3,051 MW at various stages of implementation.
SJVN aims to achieve its mission of 12,000 MW by 2026 and has a shared vision of reaching 25,000 MW by 2030 and an installed capacity of 50,000 MW by 2040.
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