State-owned SJVN on Thursday said it has bagged a 100-megawatt (MW) grid-connected solar power project in Gujarat under a tariff-based competitive bidding.
In a statement, SJVN Chairman and Managing Director Nand Lal Sharma said the company has secured the 100-MW grid-connected solar power project in Gujarat through tariff-based competitive bidding (TBCB) conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). Sharma added that the project will generate 245.28 million units energy annually and the cumulative energy generation over a period of 25 years will be about 6,132 million units.
The energy generated from this project will be procured by GUVNL for 25 years and a power purchase agreement between SJVN and GUVNL will be signed shortly. The tentative cost of project development shall be about Rs 500 crore. “The addition of this solar project, along with multiple projects obtained by the company recently, will contribute to India’s goal to build the green energy economy and boost the nation’s renewable energy potential,” Sharma stated.
SJVN is adding significant capacities in its portfolio. Currently, the company has 12 solar power projects of 3,065 MW capacity under various stages of development with a total portfolio of more than 16,900 MW. This gigantic portfolio expansion has led to SJVN’s New Shared Vision 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW installed capacity by 2040. The company is striding ahead to achieve its Shared Vision and to be partner in the sustainable development of the nation.