State-owned SJVN Ltd has secured a 100 MW solar project in Gujarat through an e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL).

The project was awarded at a tariff of Rs 2.54 per unit on a build-own-and-operate basis through a tariff-based competitive bidding process of GUVNL Phase XXI.

SJVN has secured the full quoted capacity of the 100 MW solar power project through the e-Reverse Auction conducted by GUVNL.

The ground-mounted solar project will be developed by SJVN's wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), at an estimated cost of Rs 550 crore.

The project will be executed by SGEL in the Solar Park being developed by Gujarat Industrial Power Corporation Limited in Khavda, Gujarat, through an EPC contract.

The power purchase agreement will be executed after the issuance of the Letter of Award from GUVNL.