SJVN Achieved Financial Closure of 1000 MW Solar Power Project in Rajasthan

Rajasthan- Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN today informed that the Financial Closure for India’s Largest 1000 MW Solar Power Project at Bikaner, Rajasthan has been successfully achieved. The Project is being implemented by SJVN Green Energy Limited (SGEL) a wholly-owned subsidiary of SJVN Limited.

Sh. Sharma further informed that the Project is being financed at a debt-equity ratio of 80:20. Government of India will be funding the viability gap of Rs. 447.20 Cr. The entire debt of Rs. 4444.71 Cr. has been tied up with IREDA.

Sh. Nand Lal Sharma further said that the Engineering, Procurement & Construction (EPC) Contract of this project has been awarded to M/s Tata Power Solar Systems Ltd. He further informed me that the total Cost of the Project is Rs. 5723.59 Cr. The project is scheduled to be commissioned in January 2024.

Once commissioned, it will generate 2455 million units in its first year of operation and 56838 million units during the entire life of the project. SJVN has secured this 1000 MW largest Solar Power Project through competitive bidding from IREDA under the CPSU Scheme having a tariff of Rs. 2.57 per unit.

The Loan Agreement signing ceremony was graced by Sh. Nand Lal Sharma, CMD, SJVN,      Sh. Pradip Kumar Das CMD, IREDA, Sh. A.K. Singh, Director (Finance), SJVN, Sh. Chintan Shah, Director (Technical), IREDA and other senior officers of SJVN & IREDA. The Loan agreement was signed by Sh. S.L. Sharma, CEO, SGEL & Sh. Pradipta Kumar Roy, DGM, IREDA.

SJVN, a leading power CPSE with a total portfolio of around 45000 MW is developing 72 hydro, solar, wind & thermal projects in 15 states of India and abroad. The company is aspiring for remarkable growth and has set a Shared Vision of being 5000 MW by 2023, 25000 MW by 2030 & 50000 MW Company by 2040.