SJVN gets Letter of Intent from GUVNL for 200 MW solar project

SJVN Green Energy Ltd will develop the project on a build-own-operate basis and supply the power generated to Gujarat Urja Vikas Nigam Ltd under a 25-year power purchase agreement. The project can be located anywhere in India.

February 7, 2024 Uma Gupta

Image: SJVN

SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd (GUVNL) for a 200 MW solar power project. It had won the project in GUVNL’s Phase XXII tender.

SJVN Green Energy Ltd (SGEL), an arm of SJVN, had secured the initial 100 MW solar project through bidding and further 100 MW under Greenshoe option at a tariff of INR 2.63 ($0.032)/kWh in an e-reverse auction conducted by GUVNL in December 2023.

The company will develop the project on a build-own-operate basis. The project’s construction and development cost is estimated at INR 1,100 crore.

The ground-mounted solar project shall be developed by SGEL anywhere in India through EPC contract. GUVNL will sign a 25-year power purchase agreement (PPA) with SGEL after tariff adoption by GERC.

The project is set for commissioning within 18 months from the date of signing of the PPA. “It is expected to generate 508.4 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years is 11,836.28 million units. The commissioning of this project is expected to reduce 5,79,976 tonnes of carbon emission,” stated SJVN.

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