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SJVN Green Energy Limited Secures LoI for 200 MW Solar Project from GUVNL

The project, secured through tariff-based competitive bidding at a rate of INR 2.66 per unit on a build own and operate (BOO) basis, was awarded following an electronic reverse auction conducted by GUVNL.

March 16, 2024. By Abha Rustagi

SJVN Green Energy Limited (SGEL), the renewable energy arm of SJVN, has been granted a Letter of Intent (LOI) by Gujarat Urja Vikas Nigam Limited (GUVNL) for the implementation of a 200 MW Solar Project in GUVNL Phase–XXIII.

The project, secured through tariff-based competitive bidding at a rate of INR 2.66 per unit on a build own and operate (BOO) basis, was awarded following an electronic reverse auction conducted by GUVNL.

Geeta Kapur, Chairperson and Managing Director of SJVN, revealed that the tentative construction and development cost of the project stand at INR 1,100 crores. Situated at the Gujarat State Electricity Corporation Limited (GSECL) Solar Park in Khavda, Kachchh district of Gujarat, the project's Power Purchase Agreement (PPA) will be executed with GUVNL post the adoption of tariff by GERC. The project is slated for commissioning within 18 months from the date of signing the PPA.

Forecasts indicate that the project will generate approximately 508.40 million units of energy in its inaugural year post-commissioning, with cumulative energy generation expected to reach around 11,698.16 million units over a 25-year period. Moreover, the commissioning of this project is anticipated to mitigate approximately 5,73,210 tonnes of carbon dioxide emissions.

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Gujarat Urja Vikas Nigam Limited

Gujarat

GERC

Gujarat Electricity Regulatory Commission

Letter of intent