India : SJVN Limited has been granted the Letter of Intent (LOI) by Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 200 MW Solar Power Project in GUVNL Phase XXII.
– SJVN Green Energy Limited (“SGEL”), a wholly-owned subsidiary of the Company, previously secured the initial 100 MW Solar Project through bidding and an additional 100 MW under the Greenshoe option, at a tariff rate of ₹2.63 per unit, on a Build Own and Operate basis in the e-RA conducted by GUVNL in December 2023.
– The projected construction and development cost of this project amount to ₹1,100 crores. SGEL will undertake the development of the Ground Mounted Solar Project anywhere in India through an Engineering, Procurement, and Construction (EPC) contract. Following the tariff adoption by GERC, a Power Purchase Agreement (“PPA”) will be executed with GUVNL. The project is slated to be commissioned within 18 months from the date of signing the PPA. The PPA will span a duration of 25 years and will be signed between GUVNL and SGEL.
– Following commissioning, the project is anticipated to generate 508.4 million units in the first year, with a cumulative energy generation projection of 11,836.28 million units over a span of 25 years. This endeavor is expected to mitigate approximately 5,79,976 tonnes of carbon emissions, thereby aligning with the Government of India’s initiative to curtail carbon emissions.
– The company is swiftly advancing towards its Shared Vision of reaching 25,000 MW by 2030 and 50,000 MW by 2040. This Shared Vision is aligned with the Government of India’s pledge to generate 50% of its energy from non-fossil fuel-based resources by 2030.