SJVN Green Energy bags 200 MW solar project in an e-reverse auction | Company News – Business Standard

State-owned power producer SJVN Ltd on Sunday said its arm SJVN Green Energy has bagged a 200 MW solar project in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam.

 

This project is to be developed by SJVN Green Energy on a build-own-and-operate basis at the tentative development cost of Rs 1,100 crore, a company statement said.

 

According to the statement, SJVN bagged the 200 MW capacity in the tariff-based competitive bidding for the development of solar projects in the 1,125 MW Gujarat State Electricity Corporation Limited (GSECL) Solar Park at Khavda, Gujarat.

 

SJVN through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL) has secured a 200 MW Solar Project at a tariff of Rs 2.66 per unit in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL).

 

SJVN Chairman and Managing Director Geeta Kapur informed that the project is expected to generate about 504 million units in the first year of commissioning and the cumulative energy generation over 25 years would be about 11,732 million units.

 

As per Request for Selection (RfS), the project will be commissioned in 18 months from the date of signing of the power purchase agreement, which would be signed between GUVNL and SGEL for 25 years.

 

The commissioning of this project is expected to reduce 5,74,868 tonnes of carbon emissions.

 

SJVN, a leading Power CPSE, is on rapid progression to achieve its shared vision of 25,000 MW by 2030 and 50,000 MW by 2040.

 

This shared vision has been formulated in sync with the commitment of the government to generate 50 per cent of power from non-fossil fuel-based energy resources by 2030.

First Published: Mar 03 2024 | 8:18 PM IST