SJVN Green Energy Bags 200 MW Project From GUVNL

SGEL, APDCL Sign Agreement To Develop RE Projects In Assam

SJVN Ltd’s wholly owned subsidiary company i.e., SJVN Green Energy Limited (SGEL) announced it has bagged a 200 MW project from GUVNL. SJVN further stated that it had participated in 200 MW capacity in the tariff-based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). The bidding was undertaken for the development of solar power projects in the 1,125 MW Gujarat State Electricity Corporation Limited (GSECL’s) Solar Park at Khavda, Gujarat. The e-RA for this bidding was conducted by GUVNL on 2nd February 2024 and SGEL bagged the full bid capacity of 200 MW at a tariff of Rs 2.66 /Unit.

This 200 MW solar power project is to be developed by SJVN on a build own and operate (BOO) basis. The tentative cost of construction/development of this project is to be around Rs 1,100 Crore. The project is expected to generate about 504 MUs in the 1st year and the cumulative energy generation over 25 years would be about 11,732 MUs.

As per RfS i.e., the bidding document, the Project is expected to be commissioned in 18 Months from the date of signing of PPA. The PPA between GUVNL and SGEL is to be signed for 25 years. The commissioning of this Project is expected to reduce 5,74,868 tons of carbon emissions and is estimated to contribute to the government’s mission of reduction in carbon emissions.

The company is on progression to achieve its shared vision of 25,000 MW by 2030 & 50,000 MW by 2040. This shared vision has been formulated in sync with the commitment of the government of India to generate 50% of energy from non-fossil fuel-based energy resources by 2030.

On the other hand, Satluj Jal Vidyut Nigam, climbed nearly 4% in early trade on today after the company said that its arm secured a 200 megawatts (MW) solar project. The company stock fell over 26% in the last one month as investors booked profit after the counter touched its 52-week high of ₹170.45 on February 5, 2024. Extending opening gains, the company’s stock rose by 3.9% to ₹125.65, while the market capitalization climbed to ₹48,300 crore.

Earlier this year, SJVN Ltd announced that it successfully secured a 100 MW solar project in Gujarat through an e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). SJVNL said that its bid was secured at a rate of Rs 2.54 per unit, following a competitive bidding process as part of GUVNL Phase XXI. The solar power project, which will witness an investment of about Rs 550 crore, will be undertaken by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN. It will be a ground-mounted solar power project.