SGEL Gets LoI From GUVNL For 500 MW GIPCL Solar Park In Khavda

SGEL Gets LoI From GUVNL For 500 MW GIPCL Solar Park At Khavda

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.

The power purchase agreement (PPA) is to be executed with GUVNL after the adoption of the tariff by GERC. The project is expected to be commissioned in 18 Months from the date of signing of the PPA i.e. by Nov 2025. The project is expected to generate 1271.07 million units in the 1st year after commissioning. The projected is estimated to generate cumulative energy generation over 25 years would be about 29245.40 million units.

The company is on rapid progression to achieve its shared vision of 25000 MW by 2030 & 50000 MW by 2040. This shared vision has been formulated in sync with the commitment of the Government of India to generate 50 percent of energy from non-fossil fuel-based energy resources by 2030.