SGEL, APDCL Sign Agreement To Develop RE Projects In Assam

SGEL, APDCL Sign Agreement To Develop RE Projects In Assam

SJVN Green Energy Ltd (SGEL), a wholly owned subsidiary of the company SJVN Green Energy Limited (SGEL) signed a joint venture cum shareholders agreement with Assam Power Distribution Company Limited (APDCL).

The agreement covers the development of renewable energy projects/parks within the APDCL / SGEL or SJVN command area. This project is to be undertaken on a pan-India basis and this project is to be incorporated in the form of a Joint Venture with a shareholding of 51:49 between SGEL and APDCL respectively. According to this agreement, SGEL will subscribe to 51% shareholding in a joint venture company.

Earlier this year, SJVN Green Energy Limited (SGEL) a renewable arm of SJVN received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW Solar Project. This project is part of GUVNL Phase-XXI. Geeta Kapur, Chairman/Managing Director, of SJVN, SJVN Green Energy Limited (SGEL) earlier bagged the 500 MW (100 MW + 400 MW Green Shoe) project through tariff-based competitive bidding (TBCB). The bids were made at a tariff of INR 2.54 /Unit on Build Own and Operate (BOO) basis on e-RA conducted on 25.01.2024 by GUVNL.

Geeta Kapur further stated that the tentative cost of construction and development of this project is Rs. 2700 Cr. The project is to be developed at Gujarat Industries Power (GIPCL) Solar Park at Khavda. The greenshoe option is a method in which the implementing agencies offer additional capacity to the successful bidder at the same terms and conditions under RfS.