SJVN Ltd said it has bagged a 100 MW solar project under an e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL).

SJVN bagged the 100 MW solar project at the rate of Rs 2.54/unit on a build-own and operate basis through a tariff-based competitive bidding process of GUVNL Phase XXI, a company statement said.

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

This ground-mounted solar project will be developed by SJVN through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL) at a tentative cost of Rs 550 crore.

The project will be executed by SGEL in 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.