SJVN, a government-owned hydroelectric and renewable power generation and transmission company, has won a 100 MW solar power project in the Indian state of Gujarat through a reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). The company secured the project by quoting a winning tariff of INR 2.54 ($0.031)/kWh.
SJVN will develop the project on a build-own-operate basis through its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL). The project cost is estimated at INR 550 crore.
SGEL will execute the project in a solar park being developed by Gujarat Industrial Power Corp. in Khavda, Gujarat, through an EPC contract.
GUVNL will enter into a 25-year power purchase agreement after issuing the Letter of Award.
“The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units. Further, the commissioning of this solar project is anticipated to reduce 2,87,463 tonnes of carbon emissions,” stated SJVN.
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