SJVN Ltd announced that its subsidiary, SJVN Green Energy, has successfully secured a 200 MW solar project through an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam.

According to a statement released by the company, SJVN Green Energy will develop the project on a build-own-and-operate basis with a tentative development cost of Rs. 1,100 crore.

The project is part of the tariff-based competitive bidding for solar projects within the 1,125 MW Gujarat State Electricity Corporation Limited (GSECL) Solar Park located at Khavda, Gujarat.

In the auction, SJVN clinched the 200 MW capacity at a tariff of Rs 2.66 per unit, reaffirming its competitive edge. Geeta Kapur, Chairman and Managing Director of SJVN, expressed optimism about the project's potential, anticipating an initial energy generation of approximately 504 million units in the first year, with a cumulative energy output of about 11,732 million units over 25 years.

As per the Request for Selection (RfS), the project is slated for commissioning within 18 months from the signing of the power purchase agreement between GUVNL and SGEL, spanning a duration of 25 years.

Moreover, the commissioning of this solar project is expected to play a pivotal role in reducing carbon emissions by approximately 5,74,868 tonnes, aligning with SJVN's commitment to sustainable energy practices.