SJVN Green Energy signs Power Purchase Agreement for Floating Solar Project

The project has been bagged at Rs 3.26 /Unit on Build, Own, and Operate basis in Tariff Based Competitive Bidding process of RUMSL through e-Reverse Auction.

SJVN Green Energy signs Power Purchase Agreement for Floating Solar Project
SJVN Green Energy signs Power Purchase Agreement for Floating Solar Project

New Delhi: A Power Purchase Agreement for 90 MW Floating Solar Project (FSP) at Omkareshwar, Madhya Pradesh was signed in Bhopal today on August 4. The agreement was signed in the august presence of Hon’ble Chief Minister of Madhya Pradesh Shivraj Singh Chouhan and Nand Lal Sharma, Chairman & Managing Director, SJVN.

The PPA for the project was signed between SJVN Green Energy Limited (SGEL), M.P. Power Management Company Limited (MPPMCL) and Rewa Ultra Mega Solar Limited (RUMSL).

Sh. Nand Lal Sharma informed that this is the first FSP being developed by SGEL, a wholly owned subsidiary of SJVN in the state of Madhya Pradesh. The project has been bagged @ Rs 3.26 /Unit on Build, Own and Operate basis in Tariff Based Competitive Bidding process of RUMSL through e-Reverse Auction.

Sh. Nand Lal Sharma said “The Letter of Award for development of FSP has been issued by RUMSL. The tentative cost of development of the project is Rs 585 Cr and it shall be commissioned in a period of 15 Months from the signing of PPA.”

Sh. Sharma further added “194 MU power generation in the first year and cumulative 4570 MU over a period of 25 years is expected from the project. The commissioning of this Project will reduce 2.3 lakh Tonnes of carbon emission. It will be our contribution to turn India into a net zero carbon emission nation by 2070.”

On the occasion of PPA signing, Hon’ble Minister of New & Renewable Energy, GoMP, Sh. Hardeep Singh Dang, Hon’ble Energy Minister, GoMP, Sh. Pradhuman Singh Tomar, Chairman Urja Vikas Nigam Shri Girraj Dandotiya, Sh A.K Singh, Director (Finance) SJVN, Sh. S.L Sharma, CEO SGEL, and senior officials of SGEL and Madhya Pradesh govt were also present.

Presently, SJVN has a total portfolio of 31705 MW out of which the solar & wind portfolio stands out to be 3700 MW. With the renewed vigor supported by a strong renewable energy portfolio, SJVN is set out to achieve the Shared Vision of 5000 MW by 2023, 25000 MW by 2030 & 50000 MW installed capacity by 2040.