State-owned hydropower producer SJVN has awarded the engineering, procurement, and construction (EPC) contract for a 90 MW floating solar power project to Indian multinational Larsen & Toubro Ltd.
SGEL is executing the project on a build-own-operate basis at the Omkareshwar reservoir in Madhya Pradesh. It won the project at INR 3.26 ($0.039)/kWh in a tariff-based competitive bidding and reverse auction by REWA Ultra Mega Solar Ltd.
The project is expected to generate 196 million units (MUs) of electricity in the first year and about 4,570 MU over a period of 25 years. It is estimated to require an investment of INR 650 crore.
As per the contract agreement, the project is scheduled for commissioning by December 2023.