SJVNL set to commission 100 MW solar plant worth Rs. 450 crore in Gujarat

Public sector Satluj Jal Vidyut Nigam Ltd (SJVNL) has announced it will commission a 100 MW facility in Gujarat's Dholera Solar Park at an investment of Rs 450 crore.

Gujarat Urja Nigam Ltd had requested bids for 700 MW capacity. The SJVNL got 100 MW capacity at the rate of Rs 2.80 per unit on the build-own-and-operate basis.

SJVNL Chairman and Managing Director Nand Lal Sharma said the tentative cost of the project is Rs 450 crore. The project is projected to generate 244 million units in a year. The power purchase agreement will be contracted for 25 years.

Sharma said the solar park in the Dholera Special Investment Region is positioned along the Gulf of Khambhat.

At the present rates, the solar power generation cost is at par with that of thermal power generation, he said.

Solar power tariff has been deteriorating because of sharply falling prices of solar panels, better structuring of the project that eases the risk for project developers and accessibility of finances at a competitive cost.

Sharma believed the development of these parks will lead to recognition of Prime Minister Narendra Modi's vision of providing 175 GW of power through renewable sources by 2022.