SJVN arm bags order to develop 200MW solar project in Gujarat

Shares of SJVN Ltd surged over 3% on Monday morning after the state-owned power supplier bagged an order to build and develop a 200 MW solar power project in Gujarat.

SJVN arm bags order to develop 200MW solar project in Gujarat
Representational image

According to the company filing, as per Regulation 30 of the SEBI [Listing Obligations and Disclosure Requirements], it is informed that the Wholly-owned Subsidiary of the Company i.e. SJVN Green Energy Limited has participated for 200 MW capacity in the tariff-based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited for the development of Solar Power Projects in the 1,125 MW GSECL Solar Park at Khavda, Gujarat.

Following the bidding, the SGEL bagged the full bid capacity of 200 MW at a tariff of Rs 2.66/unit.

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The project is estimated to be developed on Build Own and Operate [BOO] basis, Tentative cost of Construction Development of this project shall be around Rs 1,100 crore. The commissioning of this project is expected to reduce 5.7 lakh tonnes of carbon emission and would contribute to the Government of India's mission of reduction in carbon emission.

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The project is expected to generate about 504 MUs in the 1st year and the cumulative energy generation over 25 years would be about 11,732 MUs. As per RfS, the project shall be commissioned in 18 months from the date of signing of the PPA. The PPA shall be signed between GUVNL and SGEL for 25 years.

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