SJVN gets Letter of Intent from GUVNL for 500 MW Solar Project

SJVN Green Energy Limited (SGEL) the renewable arm of SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW Solar Project in GUVNL.

SJVN gets Letter of Intent from GUVNL for 500 MW Solar Project

SJVN Green Energy Limited, has earlier bagged the 500 MW (100 MW + 400 MW Green Shoe) Project through tariff-based competitive bidding at a tariff of INR 2.54 /Unit on Build Own and Operate (BOO) basis on e-RA was conducted on 25.01.2024 by GUVNL.  The tentative cost of construction and development of this project is INR 2700 Cr. The Project is to be developed at GIPCL Solar Park at Khavda.

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. The power purchase agreement shall be executed with GUVNL after the adoption of the tariff by GERC.

Read Also : NSE Nifty Next 50 to be launched today

The Project shall be commissioned in 18 Months from the date of signing of the PPA i.e. by Nov 2025. The project is expected to generate 1271.07 million units in the 1st year after commissioning and the projected cumulative energy generation over 25 years would be about 29245.40 million units. Commissioning of this Project is expected to reduce 1433025 Tonnes of carbon emission and would contribute to GoI's mission of reduction in carbon emission.

Read Also : DRDO develops Lightest Bullet Proof Jacket for protection against highest threat Level 6 of BIS

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% of energy from non-fossil fuel-based energy. resources by 2030.

Read Also : Power Secretary, and CMD, PFC Parminder Chopra convened at PFC Pod during WEC in Rotterdam