SJVN gets LoI from GUVNL for 200 MW Solar Power Project

08 Feb 2024 Evaluate

SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for 200 MW Solar Power Project in GUVNL Phase XXII. SJVN Green Energy (SGEL), a wholly owned subsidiary of the Company has earlier bagged the initial 100 MW Solar Project through bidding and further 100 MW under Greenshoe option at a tariff of Rs 2.63 per unit on Build Own and Operate basis in e-RA conducted by GUVNL in December 2023.

The tentative cost of construction and development of this project is Rs 1,100 crore. The Ground Mounted Solar Project shall be developed by SGEL anywhere in India through EPC contract. The Power Purchase Agreement (PPA) shall be executed with GUVNL after adoption of tariff by GERC. The Project shall be commissioned in a period of 18 Months from the date of signing of PPA. The PPA shall be signed between GUVNL and SGEL for 25 years.

The project is expected to generate 508.4 million units in first year after commissioning and the projected cumulative energy generation over a period of 25 years is 11,836.28 million units. The commissioning of this project is expected to reduce 5,79,976 tonnes of carbon emission and would contribute in Government of India mission of reduction in carbon emission.

The Company is on rapid progression to achieve its Shared Vision of 25,000 MW by 2030 & 50,000 MW by 2040. This Shared Vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030.

SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.

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