SJVN gets Letter of Intent from GUVNL for 200 MW Solar Project
The Greenshoe option is a method in which the implementing agencies offer additional capacity to the successful bidder at the same terms and conditions under RfS.
Shimla: Smt. Geeta Kapur, Chairman & Managing Director, SJVN informed that SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW Solar Power Project in GUVNL Phase XXII.
Smt. Geeta Kapur apprised that SJVN Green Energy Limited, a wholly owned subsidiary of SJVN has earlier bagged the initial 100 MW Solar Project through bidding and a further 100 MW under the Greenshoe option at a tariff of Rs 2.63 per unit on a Build Own and Operate basis in e-RA conducted by GUVNL in December 2023. The Greenshoe option is a method in which the implementing agencies offer additional capacity to the successful bidder at the same terms and conditions under RfS.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYSmt. Geeta Kapur further stated that the tentative cost of construction and development of this project is Rs 1100 crores. The Ground Mounted Solar Project shall be developed by SGEL anywhere in India through an EPC contract. The Power Purchase Agreement (PPA) shall be executed with GUVNL after the adoption of the tariff by GERC. The Project shall be commissioned in 18 Months from the date of signing of the PPA. This PPA shall be signed between GUVNL and SGEL for 25 years.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsThe project is expected to generate 508.4 million units in the first year after commissioning and the projected cumulative energy generation over 25 years is 11836.28 million units. The commissioning of this Project is expected to reduce 579976 Tonnes of carbon emission and would contribute in GoI's mission of reduction in carbon emission.
The company is on rapid progression to achieve its Shared Vision of 25000 MW by 2030 & 50000 MW by 2040. This Shared Vision has been formulated in sync with the commitment of the Government of India to generate 50% energy from non-fossil fuel-based energy resources by 2030.
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