Project Details and Cost
State-run SJVN Ltd. clinched a substantial 100-megawatt solar power project in Gujarat, signaling a strategic move toward green energy initiatives. The ground-mounted project, valued at an estimated Rs 550 crore, will be executed by SJVN Green Energy Ltd., a wholly owned subsidiary, as per a recent exchange filing.
Competitive Bidding Triumph
Gujarat Urja Vikas Nigam Ltd. conducted a competitive bidding process for the 100-MW capacity project, employing a tariff-based approach. SJVN emerged victorious, securing the project at an attractive rate of Rs 2.63 per unit. The ‘build, own, and operate’ model will drive the development of the solar venture.
National Scope and Commissioning Timeline
The solar project holds the flexibility to be developed anywhere in India, offering a wide-ranging impact. The anticipated commissioning timeline is set at 18 months from the signing of the power purchase agreement, which will extend over a substantial 25-year period.
Expanding Green Portfolio
SJVN’s foray into the Gujarat solar landscape amplifies its solar and wind portfolio to an impressive 5,090.5 MW. This includes 179.5 MW of operational capacity, 1,860 MW under construction, and a further 3,051 MW in various stages of implementation. The move underscores SJVN’s commitment to sustainable energy.
Market Response
Ahead of the official announcement, SJVN’s shares closed 2.21% higher at Rs 91.57 apiece on Tuesday. This positive momentum outpaced the 0.32% advance on the benchmark BSE Sensex, reflecting investor confidence in the company’s strategic expansion into the solar domain.
Source：bloombergquint.com
