SJVN To Build 105-MW Floating Solar Project In Maharashtra

State owned renewable energy multinational Satluj Jal Vidyut Nigam (SJVN) has announced that the company has won the 105-MW floating solar project from the Maharashtra State Power Generation Company (MAHAGENCO). SJVN said that it obtained the project through an e-reverse auction.

SJVN mentioned in the announcement that it bagged the 105-MW Floating Solar Project at a rate of Rs 3.93 per unit on Build Own and Operate (BOO) basis in MAHAGENCO’s tariff based competitive bidding process. It also said that the cost of the floating solar will come to Rs 730 crores.

SJVN Chairman & Managing Director, Nand Lal Sharma, informed that the project will be commissioned within 15 months from the date when SJVN & MAHAGENCO sign the Power Purchase Agreement (PPA). The company also said that the PPA is expected to be signed shortly.

“After commissioning, the project will generate 230 million units in first year & 5420 million unit over a period of 25 years. The commissioning of this Project is expected to reduce 2,65,602 tonnes of carbon emission. SJVN is actively contributing in efforts of Government of India of achieving net zero carbon emission by 2070,” said Nand Lal Sharma.

Recently, SJVN had signed an agreement with the Assam Power Distribution Company Limited (APDCL) to develop 1000 MW of Floating Solar Power Projects in Assam by incorporating a Joint Venture Company.

In August it had issued a tender for a 15MW floating solar PV power plant at Nangal Pond in District Bilaspur of Himachal Pradesh. Last year, SJVN also signed a MoU with Damodar Valley Corporation (DVC) for harnessing potential Solar Energy of about 2000 MW available under the DVC Command Area that would include floating solar.

SJVN has a present portfolio of more than 42,000 MW and wants to achieve its Shared Vision of 5000 MW by 2023, 25000 MW by 2030 & 50000 MW installed capacity by 2040.

SJVN is a Mini Ratna company currently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, and Arunachal Pradesh in India besides neighboring countries of Nepal and Bhutan.