Shimla: Smt. Geeta Kapur, the Chairman & Managing Director of SJVN, announced that the company has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200 MW Solar Power Project in GUVNL Phase XXII.
SJVN Green Energy Limited, a wholly owned subsidiary of SJVN, had previously won a 100 MW solar project through bidding conducted by GUVNL in December 2023, along with an additional 100 MW under the Greenshoe option at a tariff of Rs 2.63 per unit.
The Greenshoe option allows successful bidders to acquire additional capacity on the same terms and conditions under the RFS.
The estimated construction and development cost of the project is Rs 1100 crores. It will be a Ground Mounted Solar Project developed by SGEL through an EPC contract anywhere in India.
A Power Purchase Agreement (PPA) will be executed with GUVNL after tariff adoption by GERC. The project is scheduled to be commissioned within 18 months from the date of signing the PPA, which will be valid for 25 years.
The project is anticipated to generate 508.4 million units of power in its first year of operation, with an estimated cumulative power generation of 11836.28 million units over 25 years.
Its commissioning is projected to reduce carbon emissions by 579976 tonnes, aligning with the Government of India's mission to reduce carbon emissions, CMD said.
